Regulatory AlertsInteragency Guidance Regarding Deposit Reconciliation Practices
The Federal Reserve Board, CFPB, FDIC, NCUA, and OCC issued interagency guidance establishing supervisory expectations for deposit reconciliation practices at state member banks. The document emphasizes compliance with the Expedited Funds Availability Act and Regulation CC regarding prescribed time limits for making deposited funds available for withdrawal. It also highlights the prohibition against unfair or deceptive acts or practices under the Federal Trade Commission Act.
Share