Compliance Question of the Week

When does the Dodd-Frank Act provision that changes the amount of next-day available funds to $200 go into effect?

When does the Dodd-Frank Act provision that changes the amount of next-day available funds to $200 go into effect? 

ANSWER: The change in the amount of next-day available funds for Reg CC will happen on July 21, 2011.  This is the effective date in the act and when responsibility for the Consumer Protection regulations is transfered to the CFPB.

In addition, the FRB and CFPB will review and update the amount to account for inflation every five years.

Related Links

FRB press release Reg CC

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