Regulatory Alerts2018-12-10 | 2018-25746Added
Availability of Funds and Collection of Checks (Regulation CC)
The Board of Governors of the Federal Reserve System and the Bureau of Consumer Financial Protection propose amendments to Regulation CC to implement a methodology for adjusting specified dollar amounts every five years based on the Consumer Price Index for Wage Earners and Clerical Workers. The proposed adjustments would raise the minimum availability amount to $225, the cash withdrawal amount to $450, and the new-account, large-deposit, and repeatedly overdrawn thresholds to $5,525, while adjusting civil liability amounts to $1,100 and $552,500. The Agencies also propose extending the Act's coverage to American Samoa, the Commonwealth of the Northern Mariana Islands, and Guam, and are reopening the comment period for 2011 proposed amendments until February 8, 2019.
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