Proposed Funds Availability Amendments

The Bureau of Consumer Financial Protection and the Federal Reserve Board jointly proposed amendments to Regulation CC that would implement a statutory requirement to adjust for inflation the amount of funds depository institutions must make available to their customers.

The amendments would apply in circumstances ranging from next business day withdrawal of certain check deposits to setting the threshold amount for determining whether an account has been repeatedly withdrawn.

The first set of proposed adjustments, including instructions for submitting comments, are detailed in the attached Federal Register notice (click here).

To help ensure that institutions have sufficient time to implement the adjustments, the agencies propose a compliance date that would be at least 12 months after publication of a final rule in the Federal Register.