1. What is Regulation CC?
  2. How did it change?
  3. This is a good thing, right?
     

 

1. What is Regulation CC?
Federal Regulation CC governs the availability of funds deposited in checking accounts and the collection and return of checks.

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2. How did it change?
Effective July 1, 2020, our Funds Availability Policy Disclosure will have two beneficial changes for check holds. The next day availability will increase from $200 to $225. The amount available for withdrawal on exception holds for large deposits and new accounts will increase from $5,000 to $5,525.

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3. This is a good thing, right?
Yes. This change allows members to have access sooner to the money that they deposit via check.

If you have questions regarding this regulation or updates to our Funds Availability Policy Disclosure, please contact us at 586.263.8800. We’d be happy to answer all of your questions.

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