Study guide
17.1 Regulation CC Scope, Deposit Days and Next-Day Items
CRCM Certified Regulatory Compliance Manager Exam
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1 1. CRCM Exam and Study Planning
1.1 CRCM examination, eligibility and study strategy
2 2. Electronic Transfers and Error Intake
2.1 Regulation E: Coverage and Consumer Disclosures 2.2 Regulation E: Error Notices and Unauthorized Transfer Liability 2.3 EFT Error Investigation and Provisional Credit
3 3. EFT Investigations, Remittances and Prepaid Accounts
3.1 Extended Error Rules and Remittance Transfers 3.2 Prepaid accounts and special Regulation E controls 3.3 Truth in Savings: Account Disclosures and APY
4 4. Overdraft Operations and Advertising
4.1 Overdraft Practices, Fees and Advertised Terms
5 5. ECOA Applications and Credit Decisions
5.1 ECOA Coverage, Protected Bases and Application Inquiries 5.2 Age, Spousal Signatures and Joint Credit Intent 5.3 ECOA Action Notices and Specific Reasons
6 6. Valuations and Fair Lending
6.1 Business Credit Notices and Appraisal Delivery 6.2 Fair Lending: Treatment, Effects and Comparative Evidence 6.3 Redlining, Steering and Qualified Self-Tests
7 7. Credit Cards, HELOCs and Open-End Credit
7.1 Credit Cards: Coverage, Disclosures and Ability to Pay 7.2 Credit Card Fees, Payment Allocation and Billing Errors 7.3 HELOCs and general open-end credit
8 8. Closed-End Credit and Mortgage Disclosures
8.1 Closed-End Credit: Disclosures, Finance Charges and APR 8.2 Rescission Timing and Ability-to-Repay Standards 8.3 TRID Integrated Disclosures: Loan Estimate, Closing Disclosure & Fee Tolerances
9 9. Education Loans and Mortgage Insurance
9.1 Private education loan disclosures and cancellation 9.2 Homeowners Protection Act and PMI termination
10 10. HMDA Coverage and Reporting
10.1 HMDA Institutional and Loan Coverage 10.2 HMDA Exclusions, Partial Exemptions and Data Points 10.3 HMDA: Loan Application Register (LAR) Compilation, Demographic Collection & Submission
11 11. Flood Insurance
11.1 Flood Determinations, Notices and Required Coverage 11.2 Flood Contents, Escrow, Private Policies and Force Placement
12 12. CRA Evaluation and Assessment Areas
12.1 CRA Institution Categories and Performance Tests 12.2 Community Development, Ratings and Performance Context 12.3 CRA Assessment Areas and Public File Contents
13 13. CRA Disclosures, Branching and Consumer Protection
13.1 CRA File Deadlines, Notices and Sunshine Agreements 13.2 Interstate banking and branch closing duties 13.3 Unfairness, Deception and Consumer Injury
14 14. UDAAP Controls and Social Media
14.1 Abusiveness and UDAAP Program Controls 14.2 Social media advertising, complaints and records
15 15. BSA Programs, Customers and Currency
15.1 BSA Program Pillars and Independent Testing 15.2 Beneficial Ownership, CIP and Ongoing Due Diligence 15.3 Currency Reports, Aggregation and Exemptions
16 16. Suspicious Activity and Sanctions
16.1 Suspicious Activity Reporting, Confidentiality and Records 16.2 Sanctions Scope, Ownership and Blocking Decisions 16.3 OFAC Reports, Records, Licensing and Screening Controls
17 17. Check Availability and Exception Holds
17.1 Regulation CC Scope, Deposit Days and Next-Day Items 17.2 Initial-Dollar Availability, Ordinary Checks and Policy Disclosures 17.3 Exception Hold Grounds and Reasonable Periods
18 18. Hold Notices and Settlement Services
18.1 Hold Notices, Timing and Consumer Communications 18.2 RESPA Coverage, Referral Payments and Fee Splits 18.3 Permissible Services, Ownership Returns and Marketing Agreements
19 19. Mortgage Servicing
19.1 Escrow, Servicing Errors and Force-Placed Insurance 19.2 Early Intervention, Continuity of Contact and Loss Mitigation
20 20. Consumer Reports and Credit Decisions
20.1 Consumer Reports: Permissible Purpose and Employment Use 20.2 FCRA Adverse Action Notices and Credit Score Disclosures 20.3 Risk-Based Pricing and Furnisher Accuracy Duties
21 21. Furnishing, Medical Information and Identity Theft
21.1 Negative Information Notices and Furnisher Disputes 21.2 Medical information in credit decisions: Regulation FF and V 21.3 Identity Theft Program Scope, Governance and Detection
22 22. Identity Theft and Debt Collection
22.1 Red Flag Responses, Program Updates and Address Validation 22.2 Debt Collector Scope, Calls and Communication Limits 22.3 Electronic Collection Messages and Validation Disputes
23 23. SCRA Protections and MLA Coverage
23.1 SCRA Eligibility and the Six-Percent Interest Cap 23.2 SCRA Foreclosure, Repossession, Leases and Waivers 23.3 MLA Borrowers, Identification and Credit Exemptions
24 24. Military Credit and Consumer Communications
24.1 MAPR, Military Disclosures and Prohibited Credit Terms 24.2 TCPA Calling Technology, Consent and Do-Not-Call Rules 24.3 Telephone Enforcement, TSR Coverage and Commercial Email
25 25. Electronic Consent and Consumer Leasing
25.1 E-SIGN Consent and Consumer Electronic Records 25.2 Consumer Leasing Coverage, Disclosures and Residual Value
26 26. Deposit Insurance and Privacy Notices
26.1 FDIC Insurance: Single, Joint and Trust Ownership 26.2 Retirement, Business and Custodial Insurance; FDIC Signs 26.3 Privacy Notices, Sharing and Opt-Out Opportunities
27 27. Privacy Sharing and Information Security
27.1 Privacy Sharing Exceptions, Account Numbers and Reuse 27.2 Information Security Programs and Incident Investigation 27.3 Customer Incident Notices and Regulatory Notification Clocks
28 28. Authentication and Specialized Data Privacy
28.1 Authentication, access and layered security 28.2 GDPR scope, lawful processing and incident response 28.3 HIPAA and HITECH in bank services
29 29. Insider Lending and Affiliate Definitions
29.1 Regulation O Insider Definitions and Nonpreferential Credit 29.2 Insider Approvals, Lending Limits and Executive Restrictions 29.3 Affiliate Definitions, Covered Transactions and Collateral
30 30. Affiliate Transactions, Appraisals and Originators
30.1 Low-Quality Assets, Market Terms and Affiliate Limits 30.2 Title XI Valuation Thresholds, Exemptions and Credentials 30.3 Valuation Independence, HPML Appraisals and SAFE Registration
31 31. Garnishment and Financial Records
31.1 Federal Benefit Garnishment: Review, Protection and Notice 31.2 Financial Privacy: Government Requests, Certificates and Exceptions 31.3 Regulation S and financial-record reimbursement
32 32. Bank Security and Insurance Sales
32.1 Bank Bribery and Physical Security Programs 32.2 Security Reporting and Retail Nondeposit Investments 32.3 Consumer protection in bank insurance sales
33 33. Securities Activities and Anti-Bribery Rules
33.1 Regulation R and bank brokerage exceptions 33.2 Regulation U purpose credit and margin collateral 33.3 FIRREA civil penalties and foreign bribery risks
34 34. Payment Systems, Child Privacy and Tax Reporting
34.1 Deposit Classification, Reserve Ratios and Debit Interchange 34.2 Internet Gambling Controls, Child Privacy and Email Rules 34.3 IRS information reporting and backup withholding
35 35. Accessible Banking
35.1 ADA Title III and access to banking services
36 36. CMS Governance and Operating Procedures
36.1 Board of Directors & Senior Management Oversight: Responsibilities, Culture & Resources 36.2 The Three Lines of Defense Model in Bank Compliance 36.3 Compliance Policies and Procedures: Development, Approval Cycles & Operationalization
37 37. Compliance Risk Assessment
37.1 Compliance Risk Assessment: Exposure and Control Evidence 37.2 Residual Risk, Specialized Reviews and Event-Driven Updates 37.3 Risk Scoring, Impact Dimensions and Risk Appetite
38 38. Risk Indicators and Compliance Training
38.1 Compliance Indicators, Emerging Risks and Model Limits 38.2 Legal Training Duties and Role-Based Curriculum 38.3 Board Education, Training Administration and Effectiveness
39 39. Monitoring, Testing and Vendor Diligence
39.1 Monitoring, Independent Assurance and Risk-Based Scoping 39.2 Sampling Objectives, Workpapers and Testing Reports 39.3 Third-Party Planning, Diligence and Contract Design
40 40. Vendor Controls and Complaint Management
40.1 Vendor Monitoring, Fintech Controls and Service-Company Notices 40.2 Complaint Intake, Investigation and Root Cause 40.3 Complaint Reporting, Agency Responses and Systemic Redress
41 41. Regulatory Change and Corrective Planning
41.1 Regulatory Surveillance, Impact Assessment and Gap Analysis 41.2 Change Implementation, Validation and Judicial Stays 41.3 Issue Prioritization, Root Cause and Corrective Plan Design
42 42. Restitution and Examination Management
42.1 Remediation Populations, Restitution and Closure Evidence 42.2 Examination Coordination and Consumer Compliance Ratings 42.3 Supervisory Findings, Responses and Enforceable Actions
43 43. Regulatory Reports and Resubmissions
43.1 Regulatory reporting, corrections and examiner updates
17.1 Regulation CC Scope, Deposit Days and Next-Day Items
Key Takeaways Explain This Topic AI
Regulation CC deposit availability depends on banking days, cutoff times and deposit location.
Cash and specified checks have next-day treatment when their conditions are met.
A nonproprietary ATM deposit has a different availability schedule from an ordinary branch deposit.
Last updated: October 2026
Statutory Authority and Account Coverage
Regulation CC is organized into four distinct subparts, each addressing specific dimensions of payments law:
Subpart A (General): Sets forth statutory definitions, administrative authorities, and general provisions (12 CFR §§ 229.1–229.3).
Subpart B (Availability of Funds and Disclosure of Funds Availability Policies): Implements statutory availability schedules, initial disclosures, change-in-terms rules, exception holds, and hold notices (§§ 229.10–229.21).
Subpart C (Collection of Checks): Regulates the interbank check collection and return ecosystem, imposing expedited return requirements and warranties on paying and returning banks (§§ 229.30–229.43).
Subpart D (Substitute Checks): Implements the Check Clearing for the 21st Century Act (Check 21 Act), establishing legal equivalence for paper substitute checks meeting the Check 21 requirements and governing consumer expedited recredit procedures (§§ 229.51–229.60).
Transaction Account Scope: Consumer and Commercial Inclusions
A critical compliance distinction lies in the institutional scope of Subpart B. Under 12 CFR § 229.2(a), the availability schedules and disclosure mandates apply exclusively to transaction accounts as defined in Federal Reserve Regulation D (12 CFR § 204.2(e)). Covered transaction accounts include:
Demand Deposit Accounts (DDAs): Traditional non-interest-bearing or interest-bearing checking accounts payable on demand.
Negotiable Order of Withdrawal (NOW) Accounts: Interest-bearing transaction accounts eligible for individuals, non-profit organizations, and governmental entities.
Automatic Transfer Service (ATS) Accounts: Savings accounts linked to transaction accounts for automatic overdraft protection or fund reallocations.
Share Draft Accounts: Credit union transaction accounts accessed via draft instruments.
Important
Commercial Account Coverage: Unlike Regulation E (12 CFR Part 1005) and Regulation DD (12 CFR Part 1030)—which protect only consumer accounts established primarily for personal, family, or household purposes— Regulation CC Subpart B applies to BOTH consumer and commercial transaction accounts . Corporate checking accounts, partnership operating accounts, and small business transaction accounts are fully entitled to the statutory funds availability schedules and exception hold notice protections under federal law.
Non-Transaction Account Exclusions
Non-transaction deposit accounts are expressly exempt from Regulation CC Subpart B availability schedules:
Pure Savings Accounts: Deposit accounts that are not transaction accounts under Regulation D.
Money Market Deposit Accounts (MMDAs): Savings deposit accounts subject to statutory transfer limitations.
Time Deposits and Certificates of Deposit (CDs): Accounts with fixed maturity dates or contractual early withdrawal penalties.
Temporal Definitions: Business Days, Banking Days & Cut-Off Hours
Precise calculation of funds availability deadlines requires a rigorous understanding of the statutory interplay between business days, banking days, and operational cut-off hours.
Business Day Definition (12 CFR § 229.2(g))
A business day is defined as any calendar day other than a Saturday, a Sunday, or a legal federal holiday. Legal federal holidays recognized under federal statute include New Year's Day, Martin Luther King Jr. Day, Washington's Birthday (Presidents' Day), Memorial Day, Juneteenth National Independence Day, Independence Day, Labor Day, Columbus Day (Indigenous Peoples' Day), Veterans Day, Thanksgiving Day, and Christmas Day.
Banking Day Definition (12 CFR § 229.2(f))
A banking day is that portion of any business day on which an office of a bank is open to the public for carrying on substantially all of its banking functions. Banking functions encompass teller services, accepting deposits, paying cash withdrawals, opening accounts, and processing loan transactions.
Operational Interplay and Weekend Branch Hours
While a bank may open its branch lobbies or drive-through teller windows on Saturdays or Sundays, a Saturday or Sunday can never be a business day under Regulation CC:
If a bank branch is open on a Saturday from 9:00 AM to 1:00 PM for all teller and retail banking operations, Saturday is neither a business day nor a Regulation CC banking day, because a banking day is part of a business day on which the relevant office is open for substantially all banking functions.
Consequently, deposits accepted by the bank on Saturday are deemed received on the bank's next banking day , which is Monday (or Tuesday if Monday is a federal holiday).
The statutory availability clock begins on that subsequent banking day (Monday), making funds available according to the schedule computed from Monday as the banking day of deposit.
Cut-Off Hours (12 CFR § 229.19(a))
Financial institutions are permitted to establish operational cut-off hours to divide one banking day from the next:
Branch Teller Deposits: The bank may establish a cut-off hour of 2:00 PM or later for deposits made in person at a staffed branch teller counter.
ATM, Night Depository, and Remote Deposits: The bank may establish a cut-off hour of 12:00 PM (noon) or later for deposits received at automated teller machines, night deposit boxes, lockboxes, or through remote deposit capture (RDC).
Post-Cut-Off Rule: Any deposit received after the bank's established cut-off hour (or on a weekend or legal holiday) is treated as received at the opening of the bank's next banking day.
Statutory Funds Availability Schedules
Regulation CC establishes strict schedules dictating the maximum time a bank may hold funds deposited into a transaction account before granting the customer unrestricted withdrawal access.
Next-Business-Day Availability Items (12 CFR § 229.10)
Under 12 CFR § 229.10, certain deposit types carry minimal collection risk and must be made available for withdrawal no later than the first business day following the banking day of deposit :
Electronic Payments (§ 229.10(b)): Preauthorized automated clearing house (ACH) credit transfers and wholesale wire transfers (e.g., Fedwire) must be made available for cash withdrawal and transaction clearing on the business day following the banking day on which the bank receives the electronic transfer.
Cash Deposits (§ 229.10(a)): U.S. currency deposited in person to an employee of the depositary bank must be available on the next business day. Cash deposited at a proprietary ATM or night depository must be available no later than the second business day following the banking day of deposit.
U.S. Treasury Checks (§ 229.10(c)(1)(i)): Checks drawn on the United States Treasury and deposited into an account held by the named payee must be available on the next business day, regardless of whether deposited in person or at a proprietary ATM.
U.S. Postal Service Money Orders (§ 229.10(c)(1)(ii)): Postal money orders deposited in person into an account of the named payee must be available on the next business day (second business day if deposited at a proprietary ATM).
Federal Reserve and Federal Home Loan Bank Checks (§ 229.10(c)(1)(iii)): Checks drawn on a Federal Reserve Bank or Federal Home Loan Bank deposited in person into an account of the named payee require next-day availability.
State and Local Government Checks (§ 229.10(c)(1)(iv)): Checks drawn by a state, county, municipality, or political subdivision qualify for next-business-day availability only if:
- Deposited in person to an employee of the depositary bank;
- Deposited into an account held by the named payee;
- Drawn on an entity located in the same state as the depositary bank; and
The bank may require the use of a special deposit slip indicating government status, provided the bank provides such slips or notifies customers of this requirement.
Cashier's, Certified, and Teller's Checks (§ 229.10(c)(1)(v)): Official bank checks deposited in person into an account held by the named payee must be available on the next business day. The bank may require special deposit slips if disclosed in its funds availability policy.
On-Us Checks (§ 229.10(c)(1)(vi)): Checks drawn on the same bank or a branch of the same depositary bank (on-us items) deposited at a qualifying branch of the same bank are generally available next day; the on-us rule has distinct conditions and is not limited to named-payee accounts.