The new Reg CC changes adjust the funds that must be made available to accountholders for inflation. Are you ready?
- Review sample Reg CC policy language incorporating the recent changes
- Comply with the components of required notices to consumers
- Assimilate the explanation and examples of when to use exceptions and case-by-case holds
- Provide an overview of warranties, indemnities, and consumer notifications required during the check collections and returns processes
- Identify elements of substitute checks – disclosures, provisions, and warranties
- Audit your Reg CC process before the next examination
For years, all was quiet with Reg CC. But in 2018, the returns and collections processes were changed. On June 24, 2019, the CFPB and Federal Reserve Board jointly published amendments effective July 1, 2020. The changes adjust the funds depository institutions must make available to accountholders for inflation. Has your policy been updated to incorporate the recent rule, definition, and limit changes? Are your disclosures up-to-date? Do your notices contain all the appropriate language? This jam-packed session will review each of these documents section-by-section and line-by-line to ensure you’re prepared for your next audit or exam.
Dawn Kincaid, Brode Consulting Services, Inc.
Live and recorded webinar, handouts, quiz with answer key and training log are included.