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Notifying consumers of improved funds availability

Answered by: 

Question: 
Will we have to notify our customers or members of the inflation-related changes?
Answer: 

Yes. The inflation changes will require that most banks and credit unions change their funds availability account disclosures. That will also trigger notification of consumer depositors/members concerning the changes no later than 30 days after implementation. Assuming a 7/1/2020 implementation, notice will have to be provided no later than Friday, July 31, 2020.
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Learn more about John Burnett’s webinar Reg CC Amendments—a Briefing

First published on 08/04/2019

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