NCUA Compliance Deadline: Availability of Funds and Collection of Checks (Regulation CC)

Compliance Deadlines Add to Calendar 2019-09-03 12:00:00 2019-09-03 12:00:00 NCUA Compliance Deadline: Availability of Funds and Collection of Checks (Regulation CC) On July 3, 2019, the agencies jointly published a final rule to amend Regulation CC. The rule implements a statutory requirement to adjust the dollar amounts in the Expedited Funds Availability Act (EFA Act) every five years by the aggregate annual percentage increase in the Consumer Price Index for Wage Earners and Clerical Workers (CPI-W) rounded to the nearest multiple of $25. It rule implements Section 208 of the Economic Growth, Regulatory Relief and Consumer Protection Act (EGRRCPA) which extended coverage of the EFA Act to U.S. territories. The rule includes technical, non-substantive changes to the bureau’s Regulation DD to ensure consistency with the final amendments to Regulation CC and correct a technical error contained in certain formulas. Despite being open for comment in the proposal, the amendments to Regulation CC that the Federal Reserve originally proposed in 2011 are not addressed in this final rule. Final Regulation –19-EF-08 Compliance Blog – 6/28/19 Download the latest full Compliance Calendar, including proposed regulations, past deadlines and more. Location NAFCU digital@nafcu.org America/New_York public

On July 3, 2019, the agencies jointly published a final rule to amend Regulation CC.

The rule implements a statutory requirement to adjust the dollar amounts in the Expedited Funds Availability Act (EFA Act) every five years by the aggregate annual percentage increase in the Consumer Price Index for Wage Earners and Clerical Workers (CPI-W) rounded to the nearest multiple of $25. It rule implements Section 208 of the Economic Growth, Regulatory Relief and Consumer Protection Act (EGRRCPA) which extended coverage of the EFA Act to U.S. territories. The rule includes technical, non-substantive changes to the bureau’s Regulation DD to ensure consistency with the final amendments to Regulation CC and correct a technical error contained in certain formulas. Despite being open for comment in the proposal, the amendments to Regulation CC that the Federal Reserve originally proposed in 2011 are not addressed in this final rule.

Final Regulation –19-EF-08

Compliance Blog – 6/28/19

Download the latest full Compliance Calendar, including proposed regulations, past deadlines and more.