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Expedited Funds Availability Act (Reg CC) for Compliance Professionals

Covers the basic provisions of Regulation CC, which implements the Expedited Funds Availability Act focusing on the provisions of the regulation that affect customer-contact functions. Provides an overview of the check processing system, Check 21, and remotely created checks is also included.

Reviewed: September 2017 (no changes necessary)
Updated: July 2016

What You'll Learn

After completing this course, students will be able to:

  • Explain the types of accounts covered under Reg CC and the verbiage that must be included in a hold notice
  • Identify items that are subject to next day availability and exceptions to next day availability
  • Describe the guidelines for using case-by-case holds and exception holds
  • Describe Reg CC requirements relating to check processing
  • Identify additional requirements under Reg CC, including disclosure requirements, employee training, and record retention

​Audience

Compliance and risk management professionals including compliance managers, officers, and other team members whose primary role is within the compliance function at their financial institution; bank examiners, bank regulators, and auditors.​

Course Credits

ABA Professional Certifications: 1.0 CRCM, CAFP​

ABA Certificates​: This course applies to the ABA Certificate in Deposit Compliance.

Your Instructor

Thomas Healy
Chief Compliance Officer
Ally Bank, Midvale, UT

Thomas Healy is the Deputy Chief Compliance Officer at Ally Bank. Prior to Ally, he was a Compliance & Operational Risk Manager at Bank of America. Prior to his work at Bank of America, Thomas was the Compliance Officer at F&M Bank in Granite Quarry, NC. Thomas serves on the faculty and advisory boards for the ABA Compliance Schools and the editorial board for the ABA Bank Compliance magazine.


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​​​​​Questions? Contact ABA Training​ for more information.

 

 Purchase

 

Purchase for a Team
To license this course to your bank for multiple learners, please contact ABA Training.​

 

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