Regulation CC implements both the Expedited Funds Availability Act (EFA) and the Check Clearing for the 21st Century Act (Check 21). The EFA mandates how quickly institutions must make deposited funds available to their customers, that they notify customers of their availability policies and provide required disclosures. Check 21 allows institutions to use electronic images of checks (aka substitute checks) which expedites check processing times and reduces costs. It also offers consumer protections related to substitute check errors.
Kevin explains more in the video.
Published 2025/01/19
Kevin brings years of experience and a unique perspective on regulatory matters to our clients. A self-proclaimed geek and accredited CRCM, Kevin is also a recovering attorney with experience as in-house counsel for a large regional bank and one of the leading national title insurance providers. For reasons unknown, Kevin decided to leave the safety and serenity of his desk job to seek fortune and glory as a wandering adventurer. Like a bank compliance version of Kwai Chang Caine, The Man with No Name or Don Quixote, he now travels the land seeking to help those in need and righting compliance wrongs, wherever he may find them. Kevin lives in Sioux Falls with his two children, who are surprisingly normal after having endured their father’s vivid imagination for their entire lives. He won’t admit to having any hobbies, because apparently “Regulations never sleep.” (While he does say this in his Batman voice, we’re pretty sure he’s joking.) From the looks of his Facebook page, he likes the outdoors and spending time with his large extended family (who seem like relatively normal people).
