Get up to speed on Regulation CC, the EFA Act and the Check 21 Act.
This topic will cover how Regulation CC (12 CFR part 229) implements the EFA Act and the Check Clearing for the 21st Century Act (Check 21 Act). Subpart B of Regulation CC implements the requirements outlined in the EFA Act regarding the availability schedules within banks must make funds available for withdrawal, exceptions to those schedules, disclosure of funds availability policies, and payment of interest.
This material will discuss the EFA Act and subpart B of Regulation CC, which contains specified dollar amounts, including the minimum amount of deposited funds that banks must make available for withdrawal by opening of business on the next day for certain check deposits (minimum amount); the amount a bank must make available when using the EFA Act’s permissive adjustment to the funds-availability rules for withdrawals by cash or other means (cash withdrawal amount); the amount of funds deposited by certain checks in a new account that are subject to next-day availability (new-account amount); the threshold for using an exception to the funds-availability schedules if the aggregate amount of checks on any one banking day exceed the threshold amount (large-deposit threshold); the threshold for determining whether an account has been overdrawn repeatedly, and the civil liability amounts for failing to comply with the EFA Act’s requirements.
Learning Objectives
- You will be able to identify best practices.
- You will be able to review the Dodd-Frank Wall Street Reform and Consumer Protection Act.
- You will be able to discuss check-return rules.
- You will be able to review Regulation CC background.
Agenda
- Regulation CC Background
- The Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) Made Certain Amendments to the EFA Act
- Check-Return Rules and Same-Day Settlement Rules Outlined and Implemented Under Regulation CC
- Best Practices
Speakers
Mark D. Belongia,
Johnson & Bell, Ltd.- Partner in the Chicago office of Johnson & Bell, Ltd.
- Practice emphasizes all aspects of financial regulatory areas, such as consumer lending and banking
- Conducts regular seminars and workshops on lending and debt collection
- Author of several publications related to the areas of properly lending to consumers and proper methods of collection
- Member of the Chicago, Illinois and American Bar Associations
- J.D. degree, DePaul University College of Law; B.S.B.A. degree in accounting, Drake University
- Can be contacted at belongiam@jbltd.com or 312-984-0271
Anthony Zeoli,
Hinshaw & Culbertson LLP- Partner at Hinshaw & Culbertson LLP
- Concentrates his practice in commercial finance, securities, real estate, and general corporate law
- An industry leader in crowdfunding, securities-based cryptocurrency/token offerings, peer-to-peer (P2P) lending, and Regulation A+ offerings
- Member of various associations
- J.D., cum laude, Northwestern University School of Law; M.B.A., summa cum laude, University of Illinois; B.S., summa cum laude, State University of New York at Albany
Who Should Attend
This live webinar is designed for presidents, vice presidents, loan officers, loan department personnel, branch managers, credit and collections managers, credit analysts, compliance professionals and attorneys.
