{"id":2928,"date":"2022-11-09T21:49:58","date_gmt":"2022-11-09T21:49:58","guid":{"rendered":"https:\/\/albanknews.com\/?p=2928"},"modified":"2022-11-09T21:49:58","modified_gmt":"2022-11-09T21:49:58","slug":"compliance-qa-deposit-hold-considerations","status":"publish","type":"post","link":"https:\/\/albanknews.com\/?p=2928","title":{"rendered":"Compliance Q&A: Deposit Hold Considerations"},"content":{"rendered":"

Q:<\/b> Can a large deposit hold be placed on a next day item (cashier’s check) for the amount over $5,525?<\/b><\/p>\n

A: <\/b>Yes, Reg CC allows this for cashier’s checks or treasury checks. Members commonly believe that they cannot place any exception hold on a cashier\u2019s check but that is not the case. For large deposit holds specifically, as long as you’re making the first $5,525 available by the next business day, you’re allowed to hold the amounts in excess of that. https:\/\/www.ecfr.gov\/current\/title-12\/chapter-II\/subchapter-A\/part-229#p-229.13<\/a>(b)Please see our Reg CC Funds Availability Reference Guide for more information on exception holds: Reg CC Funds Availability Reference Guide | Compliance Alliance<\/p>\n

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Compliance Alliance<\/b> offers a comprehensive suite of compliance management solutions. To learn how to put them to work for your bank, call (888) 353-3933<\/b> or email info@compliancealliance.com<\/a> and ask for our Membership Team.<\/p>\n

Sign Up for a demo:<\/b><\/p>\n