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My bank is revising its deposit account agreement and Regulation CC disclosure to cover the instances other than weather-related emergencies or disasters where the bank may need to close unexpectedly or for an indeterminate period. Is this added language acceptable?

My bank is revising its deposit account agreement and Regulation CC (Expedited Funds Availability Act) disclosure to include the following:

Branches may be impacted by circumstances outside of a branch’s control (weather, natural disasters, etc.) that might create business day adjustments (reduction in lobby hours, early closures, and temporary branch closures) which may affect the availability of funds from deposits.

This language would be in addition to the Regulation CC emergency exception notice and is intended to cover the instances other than weather-related emergencies or disasters where the bank may need to close unexpectedly or for an indeterminate period. Is this added language acceptable for both the deposit account agreement and the Regulation CC disclosure?

There appear to be no issues including this language in the bank’s deposit account agreement, as it is consistent with Regulation CC’s emergency exception to funds availability schedules which allows delay in the case of an “emergency condition beyond the control of the bank.” (Section 229.13(f)). While the language offers a little more context, i.e., weather, natural disasters, such language is probably unnecessary, as the bank has already explained the exception it is Regulation CC notice. (February 2021)

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