Regulation CC: Latest Proposals


Presented by: John Burnett

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It's been almost two years since the Federal Reserve Board floated its first proposal to overhaul Regulation CC to eliminate everything related to "nonlocal checks" and address other changes in the check processing environment. While waiting for a chance to work with the CFPB on finalizing changes affecting customer's access to deposited funds, the Fed took time to re-think some of those changes and updated its proposals for changes affecting the ways checks are cleared and returned. This presentation will review the latest proposals and the Fed's goals in making them, and discuss how they may affect depositary and paying banks. We'll also review what could happen to the sections that the Bureau has to weigh in on, which involve funds availability policies, case-by-case and exception holds, customer notices, disclosures and other matters affecting depositors.

In this fast-paced two hours, we will cover these topics and more:
  • The parts of the regulation for which changes require CFPB involvement
  • The Fed's stated goals for its recent proposal updates
  • Options designed to encourage acceptance of electronic return items
  • Pros and cons of the options presented in the Fed's proposal
  • The doubling of the $100 next day rule
  • The three tests under the expeditious return requirement
  • How the proposals could affect depositary and paying banks
  • The fate of the large item return notice
  • Electronically-created items
  • Case-by-case holds: the case for elimination
  • New limits on exception holds
  • Revised disclosures
  • Updated notices of holds
This program will include discussions of the current proposals and what is likely to appear in the final rules when they are issued. There is no assurance, however, that the forecasted changes will agree in every respect with those final rules.

Who Should Attend:
Compliance officers, operations officers and others who want an understanding of the proposals to update Regulation CC and their potential effects upon their institutions.

About the Speaker: John Burnett is a 1979 alumnus of the ABA National Compliance School, and served on its faculty for several years. He graduated with honors with the Class of 1990 from the Stonier Graduate School of Banking. He is also a graduate of the BAI and the Massachusetts Banker Association Schools of Banking.

John brought over 35 years of banking experience (over 25 of them in Compliance and Operations) to Glia Group, Inc. and BankersOnline, when he joined them as a "BOL Guru" and Associate Editor in June, 2004.

He is a former member and chair of the Massachusetts Bankers Association's Legal and Regulatory Compliance Committee. He is an advisory board member for Bankers Hotline, and has participated in several ABA and Massachusetts Bankers seminar panels.

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CD-ROM includes:
  • Complete presentation (including slides and audio)
  • Written Materials
  • Follow-up Q & A
You have the right under this license agreement for this CD-ROM to use this presentation on a single-workstation. Use on a network is in violation of the copyright agreements. CD may be used by multiple users at a given institution but may not be placed on a network or in any other multi-user environment.

This program was recorded in its entirety in February 2014. The CD-ROM includes program slides, materials (if available) and follow-up Q & A document.

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  • Model: cd_regcc0214
  • Manufactured by: Glia Group, Inc.

This product was added to our catalog on Monday 07 March, 2011.

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