Online Courses Financial Compliance Banking Compliance Regulation CC

Regulation CC

Created by: HSI - Health & Safety Institute Top Author

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What you'll learn

Regulation CC: 01 Expedited Funds Availability Act Basics

Regulation CC: 02 Expedited Funds Availability Act Exception Holds

Regulation CC: 03 Expedited Funds Availability Act Check 21

Skills covered in this course

banking Bank Regulation regulation CC HSI-ej4

Before 1987, back when paper checks were still a thing, MTV still aired music videos, and big hair was a MUST, many banks were holding deposits basically for as long as they wanted, before crediting consumers' accounts. "Gimme my money!" Am I right? Due to obvious public concern, congress passed the Expedited Funds Availability Act, or EFAA. The act limits the fund holding periods for all U.S. banks, savings institutions, and credit unions. This act led to many banking changes, which we'll get to throughout this series, but in this first course, we'll talk about the basics of the EFAA.

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Author

HSI - Health & Safety Institute

2062 Courses

Making the Workplace Safer and Smarter

HSI (Health & Safety Institute) is a recognized leader in Environmental, Health and Safety (EHS) and workforce development software, training, and compliance solutions.

HSI is your single-source partner for EHS, Compliance, and Professional Development solutions. HSI provides integrated e-learning content, training solutions, and cloud-based software designed to enable your business to improve safety, operations, and employee development. Across all industries, we help safety and technical managers, human resources, first responders, and operational leaders train and develop their workforce, keep workers safe, and meet regulatory and operational compliance requirements. We are a unique partner that offers a suite of cloud-based software solutions including learning management, safety management, chemical SDS management, and more, integrated with our content and training so businesses can not only monitor and manage multiple workflows in one system, but train employees via one partner.

Regulation CC

Regulation CC: 01 Expedited Funds Availability Act Basics

Regulation CC: 02 Expedited Funds Availability Act Exception Holds So, like, in the last program, we totally talked about the Expedited Funds Availability Act of 1987, and how it was managing paper checks, and more importantly, their funding times. Since the banking industry is one of the most clear-cut, unambiguous industries (PSYCH!), there are, of course, a ton of exceptions to their rules. Don't have a cow! In this program, we'll quickly roll through the exceptions to Regulation CC's funds availability requirements.

Regulation CC: 03 Expedited Funds Availability Act Check 21 YES. Get excited. We're talking about Check 21. "WHAT?!" Yeah, you read that right! Back in October 2004, the Check Clearing for the 21st Century Act, also known as Check 21, went into effect and is covered in Subpart D of Regulation CC. authorizes the use of a negotiable instrument called a "substitute check." Check 21 provides the legal framework for the creation of these types of checks, which can then be used in place of the original paper check, without an agreement in place with other financial institutions. Prepare yourself for the wonder of Check 21. Let's dive in.

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$20.00

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$20.00

Regulation CC

What you'll learn

Skills covered in this course

Overview

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