Current reg cc check available windows#
The notice is not required at any drive-through teller windows nor is it required at night depository locations, or at locations where consumer deposits are not accepted. For example, the notice might be posted at the point where the line forms for teller service in the lobby. The notice need not be posted at each teller window, but the notice must be posted in a place where consumers seeking to make deposits are likely to see it before making their deposits. The notice that is required must specifically state the availability periods for the various deposits that may be made to consumer accounts. This paragraph describes the statutory requirement that a bank post in each location where its employees accept consumer deposits a notice of its availability policy pertaining to consumer accounts.
229.18(b) Locations Where Employees Accept Consumer Deposits Therefore, we can look to the commentary for additional guidance on this topic.ī. A bank shall post in a conspicuous place in each location where its employees receive deposits to consumer accounts a notice that sets forth the time periods applicable to the availability of funds deposited in a consumer account.Īs you can see, this requirement is fairly general and doesn’t give any specifics. (b) Locations where employees accept consumer deposits. Section 229.18 of Regulation CC provides a very short paragraph in regards to the what disclosures must be posted in a lobby for Regulation CC: Funds Availability Lobby Notice Requirements In particular, I received a question this week regarding the lobby disclosure requirements under regulation CC. While these rules have been around for years, we still continue to see questions and misunderstandings about some of these rules. In the meantime, banks are still required to comply with the rules of Subpart B of Regulation CC, including hold time frames for deposits, account disclosures, and additional disclosure requirements. In fact, Regulation CC has been on the CFPB agenda as one of the banking regulations that will be released later in the year, for years. Subpart B to Regulation CC - which is the section of the rule that relates to funds availability and check holds - is terribly written, terribly out-of-date, and has been on the list to be redone by the CFPB for years now. Sure, there were a few updates to Subparts A, C & D, such as new requirements for mobile deposit endorsements that went into effect on July 1, 2018, but what we are really waiting on are the revisions to Subpart B. As most of you probably know, we have been expecting a revised Regulation CC for years now.
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