{"id":1884,"date":"2019-10-09T16:35:23","date_gmt":"2019-10-09T16:35:23","guid":{"rendered":"https:\/\/albanknews.com\/?p=1884"},"modified":"2019-10-09T16:35:23","modified_gmt":"2019-10-09T16:35:23","slug":"compliance-qa-threshold-changes-to-reg-cc","status":"publish","type":"post","link":"https:\/\/albanknews.com\/?p=1884","title":{"rendered":"Compliance Q&A: Threshold Changes to Reg CC"},"content":{"rendered":"

Question:<\/strong><\/p>\n

This is regarding the recent threshold changes to Regulation CC. Since we have same-day availability and the amounts are actually in the customers\u2019 favor, do we have to do a change notice to reflect the new funds availability thresholds?<\/p>\n

Answer:<\/strong><\/p>\n

Yes, it would still be required to be updated and provided within 30 days of the change as set out here:<\/p>\n

(e)\u00a0Changes in policy.\u00a0A bank shall send a notice to holders of consumer accounts at least 30 days before implementing a change to the bank’s availability policy regarding such accounts, except that a change that expedites the availability of funds may be disclosed not later than 30 days after implementation.<\/em>
\nhttps:\/\/www.ecfr.gov\/cgi-bin\/text-idx?SID=3637768da342b80a478311cfcb340a34&mc=true&node=se12.3.229_118&rgn=div8<\/a><\/p>\n

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