Regulation CC amendments affecting your bank have been finalized. One set of minor changes will be effective 60 days after the amendments are published in the Federal Register. The more significant changes are inflation adjustments to several dollar amounts that will require changes in your bank’s procedures, retraining of tellers and others who place deposit holds, and updates to some software systems.

The significant changes affect the dollar amount of holds placed on customer deposits to adjust for inflation. Because these changes require changes in some software systems and procedures for placing holds on customer deposits, your bank will need to plan training sessions and work with software vendors to make any needed updates to your systems that create or release holds. And these changes will require updating your account disclosures and notifying all your transaction account deposit customers.  All of that will require lead-time and change-management to meet a July 1, 2020, compliance deadline.

This special one-hour update program will cover these topics:

• The minor Reg CC changes that will be effective in late Summer, 2019
• Non-substantive changes to Regulation DD (Truth in Savings)
• The Reg CC dollar amounts that will be changed
• Plans for future inflation adjustments
• Required disclosure changes
• Notifying depositors of the changes
• Required training issues
• Potential software issues
• Other

WHO SHOULD ATTEND:

Compliance officers, auditing staff, Operations managers, Training staff, Frontline supervisors, software providers, others involved in deposit holds management.