Agencies Adjust Funds-Availability Schedules for Inflation

Jun 25, 2019
The Consumer Financial Protection Bureau and the Federal Reserve Board published amendments to Regulation CC requiring depository institutions to adjust for inflation the amount of funds available to their customers.

The amendments apply in circumstances including next-business-day withdrawal of certain check deposits and determining whether an account has been repeatedly withdrawn.

Regulation CC implements the Expedited Funds Availability Act of 1987. The Dodd-Frank Act requires EFA Act's dollar amounts be adjusted for inflation every five years. The compliance date for the adjusted amounts is July 1, 2020.

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