Federal Reserve Proposes Amendments to Regulation CC Regarding Collection of Checks and Availability of Funds

March 9, 2011

The Federal Reserve Board on March 3, 2011 requested public comment on proposed amendments to Regulation CC (Availability of Funds and Collection of Checks) to encourage banks to clear and return checks electronically, add provisions that govern electronic items cleared through the check-collection system, and shorten the 'exception' hold periods on deposited funds.