Effective July 1, Regulation CC will be amended pursuant to a Request for Comment (RFC) issued by the Consumer Financial Protection Bureau and the Federal Reserve in December 2018. That RFC sought industry feedback on how to calculate funds availability, and the July 1 amendments will implement a statutory requirement to adjust the funds availability amount made available to customers. The final rule (Off-site) includes a number of changes, including the following that may have the greatest impact on your institution:

  • 229.10 (c) Minimum amount of deposited funds currently set at $200 will move to $225
  • 229.12 (d) Permissive Adjustment to funds availability will change from $400 to $450
  • 229.13 (a) “New Account,” large deposit and exception holds for next-day availability will change from $5,000 to $5,525

In addition, there will be increased civil liability for any financial institution failing to comply with any requirement under subpart B, depending upon the severity of the infraction.

Please contact FedACH® and Check Services Customer Support with any questions about the July 1, 2020, amendments.