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The CFPB and Federal Reserve published a final rule to implement a new calculation methodology for adjusting dollar amounts under the Electronic Funds Availability (EFA) Act to account for inflation. The methodology is finalized as proposed, but with a three-month delay of the effective date to July 1, 2020.

In addition, the final rule implements certain provisions included in the Economic Growth, Regulatory Relief and Consumer Protection Act (S. 2155) related to the EFA Act's applicability to U.S. territories.

The proposed rule also sought public comment on a subset of amendments proposed by the Fed in 2011 related to Regulation CC's funds-availability provisions; however, those are not addressed in this final rule. NAFCU asked that the final rule mitigate funds availability disclosure costs that could disproportionately impact small credit unions and proceed with any potential changes related to the 2011 proposal through a separate rulemaking.

The final rule does not indicate whether additional changes to Regulation CC are expected in the future.

A recent NAFCU Compliance Blog post addresses frequently asked questions related to Regulation CC and funds-availability requirements.