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Upcoming League Events


Reg CC


Thursday, February 14, 2013

10:00 am - Noon CST


Speaker: Ken Ostuka, CUNA Mutual Group


About the Program

Losses from check fraud continue to cause losses in the credit union industry. The most effective loss control against fraudulent deposit losses is the check hold. The changing check fraud environment has forced credit unions to reevaluate their check hold policies. Learn how to use Federal Reserve Regulation CC to protect your credit union from check fraud losses. This session will also address check return rights for items that are returned unpaid to the credit union.


This session will include a thorough discussion on the following:

  • Funds availability schedules for next-day checks and local checks
  • Exception (safeguard) holds
  • Holds on ATM deposits
  • Disclosure requirements
  • Remotely created checks
  • Check return rights including an overview of Uniform
  • Commercial Code 3-302 (midnight deadline rule)


The session will also cover the Federal Reserve Board's proposed amendments to Reg CC, which were issued in March 2011. The proposed amendments overhaul the regulation to shorten exception holds; shorten holds on deposits to nonproprietary ATMs; promote acceptance of electronic presentment and electronic return of items; eliminate old references to "local" and "nonlocal" checks; and revise disclosures and notices.

Related Files
Printable Brochure (Adobe PDF File)

Related Links
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