EXPEDITED FUNDS AVAILABILITY ACT (REG CC)

Self-paced online course: ABA eLearning  
Price: $95 members; $130 non-members  ENROLL NOW

Course Description:  Expedited Funds Availability Act (Regulation CC) introduces the key components of the Act. This course explores the availability schedules used on transaction account deposits and the general conditions when EFAA allows holds to be extended. The course has been updated to reflect the elimination of non-local holds effective February 26, 2010. This course also explains some basic requirements created by the Federal Reserve Board as part of EFAA for paying and returning checks. REVISED: 2010 

Audience:  Any employee who accepts checks for deposit into transaction accounts. 

Learning Objectives:  After completing this course, students will be able to:

·         Differentiate between next day, 2nd day, and 5th day availability schedules

·         Share the primary benefits of Check 21

·         Describe general disclosure information required for all financial institutions

·         Describe the key rules for returning checks

Credit:  ICB: 1.5 CBT, CCSR, CPB, CFSSP