Regulation CC: Availability of Funds and Collection of Checks

Step Type: Text

What learners will learn: Overview of Regulation CC.

Step Description:
This step introduces Regulation CC, issued by the Federal Reserve to implement the Expedited Funds Availability Act of 1987. It explains national standards for fund availability, consumer protections, and updated thresholds taking effect July 1, 2025.

Summary of Content:
This step explains Regulation CC, which implements the Expedited Funds Availability Act. It outlines funds availability timing, disclosure requirements, endorsement standards, and procedures for notifying customers of changes. It also specifies when deposits must be available and under what conditions holds may be applied.

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Step Type: MultiChoice

What learners will learn: The scope and purpose of Regulation CC.

Step Description:
This step uses active recall to reinforce understanding of why Congress created Regulation CC and what financial institutions must disclose.

Summary of Content:
Learners identify the original goals of the Expedited Funds Availability Act, understand mandatory disclosures to customers, and distinguish between required and non-required elements.

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Step Type: Sorting

What learners will learn: Deposits mandated as next-day under Regulation CC.

Step Description:
This interactive step challenges learners to sort various deposit types into those that are subject to next-day availability versus those that are not.

Summary of Content:
Learners examine Regulation CC’s rules for funds availability, especially around cash, Treasury checks, and other high-priority deposit types.

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Step Type: Polygraph

What learners will learn: Requirements for financial institutions.

Step Description:
This active recall step highlights facts and misconceptions about financial institution responsibilities under Regulation CC.

Summary of Content:
Learners explore notification timelines, customer disclosure rules, and exceptions such as inflation-driven changes.

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Step Type: Text

What learners will learn: Overview of the Check 21 Act.

Step Description:
This step introduces the Check Clearing for the 21st Century Act (Check 21 Act), which allows banks to convert paper checks into electronic images, streamlining processing and improving transaction speed.

Summary of Content:
This step covers the Check Clearing for the 21st Century Act (Check 21), which allows banks to convert paper checks into digital images called substitute checks. It explains the check truncation process, impacts on consumers, and the introduction of remote deposit. It also notes related electronic deposit options and their regulatory implications.

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Step Type: Streak

What learners will learn: Provisions of Check 21.

Step Description:
This step reinforces knowledge of the Check 21 Act through fast-paced recall of key concepts like remote deposit, check truncation, and liability changes.

Summary of Content:
Learners identify how Check 21 enables electronic check processing, what constitutes a substitute check, and what new products emerged as a result.

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Step Type: Crossword

What learners will learn: An overview of the Regulation CC and Check 21 course.

Step Description:
This crossword step serves as a final mastery check for Regulation CC and Check 21, covering terminology, key regulatory updates, and fund availability timelines.

Summary of Content:
Learners review the regulation’s impact on check processing, timing for fund availability, and consumer protections.

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