Is Your Financial Institution Prepared for the July 2020 Reg CC Changes? – WST

2020-05-21T21:23:09+00:00

May 21, 2020 Is Your Financial Institution Prepared for the July 2020 Reg CC Changes? - WST In 2010, the Dodd-Frank Act implemented changes to the Expedited Funds Availability Act, better known as Reg CC, including a) periodic adjustments to hold amounts to account for inflation, and b) customer notification requirements.  The 2019 final rule adjusted these two requirements in Reg CC effective July 1, 2020.  Is your financial institution prepared for these changes? Reg CC Inflation Adjustment Requirements Effective July 1, 2020, financial Institutions will now have to increase the amounts made available to consumers the next [...]