Inflating the Numbers: A Look at Upcoming Changes to Regulation CC

A discussion of the inflation-based increases in certain amounts in Regulation CC and FAQs explaining operational issues about notifying existing members of any relevant changes to the credit union’s specific availability policy disclosure.

Written by D avid Park, Regulatory Compliance Counsel

By now credit unions are likely familiar with the final rule published by the Board of Governors of the Federal Reserve System (Board) and the Bureau of Consumer Financial Protection (CFPB) in July 2019. The final rule amended portions of subpart B of Regulation CC related to the availability of funds and collection of checks. The parts of the final rule addressed in this article become effective on July 1, 2020.

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