Program Description:
This AIB course introduces students to key
components of the Expedited Funds Availability Act
(Regulation CC). Students will gain general
knowledge of availability schedules used on
transaction account deposits and the general
conditions when EFAA allows holds to be extended.
Students will also learn some of the basic
requirements created by the Federal Reserve Board as
part of EFAA for paying and returning checks.
After successfully completing this course, the student will be able to:
- Differentiate between next day, 2nd day, and 5th
day availability schedules
- Explain the conditions allowed by Regulation CC for extended holds
- Describe general disclosure information required for all financial institutions
- Recognize proper placement of endorsements
- Describe the key rules for returning checks
Who Should Attend:
Any employee who accepts checks for deposit into
transaction accounts.
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