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ABA: The American Bankers Association
Compliance News

Fed, CFPB Issue Final Rule for Reg CC Inflation Adjustment Calculation

The Federal Reserve and the Consumer Financial Protection Bureau finalized changes to Regulation CC (the Expedited Funds Availability Act) to adopt a method for making inflationary adjustments to the dollar amounts in Regulation CC every five years pursuant to the Dodd-Frank Act. The adjustments include, for example, an increase in the large dollar exception amount from $5,000 to $5,525. As recommended by ABA, the first adjustments will be effective July 1, 2020. For more information, contact ABA’s Nessa Feddis.