Expedited Funds Availability Act (Reg CC) for Compliance Professionals
ABA SELF-PACED ONLINE TRAINING
Covers the basic provisions of Regulation CC, which implements the Expedited Funds Availability Act focusing on the provisions of the regulation that affect customer-contact functions. Provides an overview of the check processing system, Check 21, and remotely created checks is also included.
Objectives:
- Explain the types of accounts covered under Reg CC and the verbiage that must be included in a hold notice
- Identify items that are subject to next day availability and exceptions to next day availability
- Describe the guidelines for using case-by-case holds and exception holds
- Describe the Reg CC requirements relating to check processing
- Identify additional requirements under Reg CC, including disclosure requirements, employee training, and record retention
Audience: Compliance and risk management professionals including compliance managers, officers, and other team members whose primary role is within the compliance function at their financial institution; bank examiners, bank regulators, and auditors.
ABA Certifications: 1.0 CRCM, CAFP
Your Instructor: Thomas Healy, Chief Compliance Officer, Ally Bank, Midvale, UT
Thomas Healy is the Deputy Chief Compliance Officer at Ally Bank. Prior to Ally, he was a Compliance & Operational Risk Manager at Bank of America. Prior to his work at Bank of America, Thomas was the Compliance Officer at F&M Bank in Granite Quarry, NC. Thomas serves on the faculty and advisory boards for the ABA Compliance Schools and the editorial board for the ABA Bank Compliance magazine.
Related Training: ABA Certificate in Deposit Compliance
The New York Bankers Association is a Local ABA Training Provider.
Questions: NYBA Professional Development at
(212) 297-1679 or
[email protected].