Your employees should also be instructed about providing availability disclosures.
REG CC CHECK ENDORESMENT HOW TO
For example, employees who issue hold notices should be instructed on when to hold funds and how to notify customers that funds are being held. Your institution is required to establish procedures to ensure that it complies with the requirements of Regulation CC and to provide a copy of these procedures to all employees who perform duties affected by the regulation. Remember, while you are confirming that your disclosure statements match your practices, you should also verify that your practices conform to the regulation. Verification should be done each time your institution's funds availability practices are changed. If they are not, your institution must either change its practices or change its disclosure statements to reflect its practices. You can monitor whether your disclosed policy reflects your practices by comparing specific instances of deposit transactions with your institution's disclosure statements to see if they are the same. Regulation CC requires that financial institutions provide customers who have a transaction account with disclosures stating when their funds will be available for withdrawal many institutions use the model disclosure statements included in Regulation CC. Providing funds availability disclosures and notices to customersīy highlighting the rules in these areas and giving examples illustrating application of the rules, this guide may answer your institution's questions about Regulation CC.Making funds available for withdrawal within the times prescribed by the regulation.This guide highlights the following requirements of Regulation CC:
The full regulation is available on the Government Printing Office's website. Rather, it is intended to give a broad overview of the regulation's requirements. This guide should not be interpreted as a comprehensive statement of the regulation.
This guide is intended to help financial institutions comply with Regulation CC, Availability of Funds and Collection of Checks.
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