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Regulation CC (Expedited Funds Availability): Understand and Implement

Aired: Tuesday, January 23, 2018

2.5 CRCM, 2.5 CAFP

It has been over a decade since the federal agencies modified Regulation CC. After several years of proposals and public comment, the Federal Reserve Board finalized amendments on May 31, 2017, to become effective on July 1, 2018.

The amendments advance efforts to make the check system fully electronic to "reflect the virtually all-electronic check collection and return environment and to encourage all depositary banks to receive, and paying banks to send, returned checks electronically." For the first time, Reg CC will directly recognize the interbank exchange and return of electronic images. The amendments also will establish new definitions, warranties, and indemnities which banks must understand in order to implement operational and compliance changes.

The amendments impact check collection and operations (Subpart A - Definitions, Subpart C - Collection of Checks, and Subpart D - Substitute Checks). They do not change Subpart B - Availability of Funds and Disclosure of Funds Availability Policies.

This 2-hour recording features a panel of experts who have been closely involved in the banking industry's input into the amendments over the last few years. The recording explains the amendments and discusses implementation issues for banks and the check system.

This recording focuses on:

  • Expeditious return requirements
  • Coverage of / warranties for electronic checks / electronic returned checks
  • New RDC indemnity for remotely deposited checks
  • New ECI indemnity for check-like payments that are created electronically


  • Nessa Feddis, Senior Vice President and Deputy Chief Counsel (moderator)
  • Thomas Fox, Partner, Schwartz & Ballen LLP
  • Jenny Johnson, Director, ECCHO

 Continuing Education Credits


ABA Professional Certifications has approved this program for 2.5 CRCM and 2.5 CAFP continuing education credits for the live program and the recording.

CPE logoRecordings are not eligible for CPE credits.

American Bankers Association is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website:

​Program Questions? Please contact Linda Shepard / Cari Hearn.

 Pricing & Purchasing


Streaming Online Recording
Now Available

ABA Member • $265
Non-Member • $395


 Who Should Attend

  • Compliance Officers
  • Compliance Managers
  • Check Payment Operations and Products Managers
  • Legal Counsel
  • Chief Operating Officers
  • CRCMs and CPAs

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