The Federal Reserve Board and Consumer Financial Protection Bureau (collectively, the "agencies") proposed amendments (the "2018 proposal") to Regulation CC, which implements the Expedited Funds Availability Act ("EFA Act"). The agencies also reopened the comment period on proposed amendments to the funds availability provisions of Regulation CC and related definitions and appendices (the "2011 proposal").
In the 2018 proposal, the agencies proposed a calculation methodology for implementing a statutory requirement to adjust the dollar amounts in the EFA Act every five years.
Comments on the 2018 proposal and the 2011 proposal must be submitted before February 8, 2019.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
