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2018 Regulation CC Amendments: What is Final and What is Proposed

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When Regulation CC first came into effect, payments and collections were paper-based. But banking has most almost completely shifted to electronic-based, and the FRB is responding by amending Regulation CC to reflect modern industry practices. This final rule takes effect July 1, 2018.

FRB has also issued proposed rules surrounding liability provisions for disputes of check alterations concerning substitute and electronic checks and there was a Request for Comment from the industry on the issue last August.

Join us as we dive into the final rule and its implications for operational compliance, the liability provisions of the proposed rule and how to be prepared for each.

We Will Cover:

  • How existing paper check warranties apply to electronic checks and electronic returned checks
  • Modifications to the “two-day test”
  • New conditions for expeditious return liability
  • The proposed rule’s adoption of a presumption of alteration concerning disputes of substitute and electronic checks

Date Aired: June 21, 2018

(Training On-Demands are current as of the date aired.)


Presenter:

  • Becky Breland
    • Becky Breland
    • Senior Consultant Becky Breland has 18 years legal experience in the areas of federal consumer protection regulations and Bank Secrecy Act compliance. Becky is a regulatory attorney licensed to practice law in the State of Alabama since 2001. Her current responsibilities include working closely with financial institutions to create custom training programs and materials. Becky also works directly with regulatory agencies to develop content for their custom training programs along with maintaining the training program materials for changes in policies and regulations. In addition to developing classroom training, Becky has developed online training and webinars for Capco. Becky is one of Capco's trainers and has provided classroom training to regulatory agencies, financial institutions and at Capco-hosted events, seminars and workshops on the subjects of deposit, operations and lending compliance.

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