Reg CC Flashcards
What are the funds availability rules?
Expect to apply the rules to different fact pattern situations.
When are funds considered deposited?
Does anything change based on how something is deposited (i.e. mail, lockbox, branch)?
What are the permissible cutoff times for the receipt of deposits?
Do these timeframes change based on where an item is deposited?
How does Reg cc address indemnity for remotely deposited checks?
When might a CU need to indemnify another financial institution when a check is deposited both by remote deposit capture (RDC) and as a paper check?
What is the various check exception holds?
What circumstances may they be invoked?
When may a CU invoke the exception for reasonable cause to doubt collectability and how long may a hold last?
What are the funds availability disclosure requirements (specify policy disclosures, initial disclosures, and additional disclosures)?
What is required to be preprinted on deposit slips versus lobby notices?
Where must a CU post its funds availability policy?
