Availability of Funds and Collection of Checks
Abstract
The Board and the CFPB (collectively, the Agencies) are amending Regulation CC, which implements the Expedited Funds Availability Act (EFA Act) and the Check Clearing for the 21st Century Act (Check 21 Act), to fulfill a statutory requirement in the EFA Act to adjust the dollar amounts under the EFA Act for inflation.
Federal Register Source
This document is published by the Office of the Federal Register, National Archives and Records Administration. Access the full regulatory text, preamble, and docket comments below.
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Other Rules from Federal Reserve
Frequently Asked Questions
What is the 2024-10844 Federal Register document?
Document 2024-10844 is a Final Rule published by the Federal Reserve System in the Federal Register on May 20, 2024, with an effective date of July 1, 2025. The Board and the CFPB (collectively, the Agencies) are amending Regulation CC, which implements the Expedited Funds Availability Act (EFA Act) and the Check Clearing for the 21st Century Act (Check 21 Act), to fulfill a statutory requirement in the EFA Act to adjust the dollar amounts under the EFA Act for inflation. View the original at https://www.federalregister.gov/documents/2024/05/20/2024-10844/availability-of-funds-and-collection-of-checks.
Is document 2024-10844 an economically significant rule?
No. Document 2024-10844 is not classified as economically significant under Executive Order 12866. Economically significant rules require OIRA review and are estimated to have impacts of $100 million or more per year.