Holds for Tellers


Presented by: John Burnett

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Regulation CC imposes limits on the holds a bank can place on deposits of checks to transaction accounts. When tellers fail to place holds on deposits permitted under a bank's funds availability policy, they increase the risk of losses due to bounced or fraudulent checks. When they place holds that aren't permitted under the regulation, there's added risk of litigation by bank depositors. It's critically important that tellers understand and comply with your bank's policy on funds availability, and that the policy complies with the Regulation CC restrictions.

This basic-level presentation on holds for tellers covers the current Regulation CC limits on deposit holds. Attendees will receive information helping them understand:

  • The impact of Regulation CC on both consumer and non-consumer accounts
  • The account types affected by the regulation
  • Deposits that are not subject to Regulation CC, but …
  • Banking days and business days under the regulation
  • The concept of "available" funds
  • Their bank's Funds Availability Policy disclosure
  • Deposits that receive same day availability
  • Which deposits must get "next day" availability
  • The $200 and $400 rules
  • Case-by-case holds
  • Exception holds
  • Notices of holds
  • And more
Compliance officers, New accounts personnel, head tellers, tellers, training officers

About the Speaker: John Burnett joined Glia Group, Inc., and BankersOnline in 2004, and currently serves as Executive Editor. He is a 1990 honors graduate of the Stonier Graduate School of Banking and is an alumnus of the ABA National Compliance School, where he served on the faculty for several years.

John began his banking career in high school when he started as a teller at a $15 million bank that didn't have account numbers for its checking accounts (he says they actually filed by signature!) He joined Cape Cod Bank and Trust Company in 1971 and assumed the position of Compliance Officer in 1976. He also served as corporate secretary and secretary of CCBT's Board of Directors, as well as Clerk of the bank's holding company.

He was a member and Chair of the Massachusetts Bankers Association Legal and Regulatory Compliance Committee, and a member of the American Bankers Association Compliance Executive Committee and NCS/NGCS Advisory Board. He is a regular presenter of BOL Learning Connect webinars and a presenter at BOL Conferences events. As a BOL Guru, John assists bankers handle common and uncommon compliance challenges on the BankersOnline.com site and its paid subscription service, BankCompliance.com.

This program was recorded in its entirety in May 2019. The CD-ROM includes program slides, materials (if available) and follow-up Q & A document.

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  • Model: cd_tellers0519
  • Manufactured by: Glia Group, Inc.

This product was added to our catalog on Tuesday 09 April, 2019.

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