CFT
Webinars are purely educational. Instructors are not permitted to sell any
products or services during the presentation.
Program
Content:
The
Consumer Financial Protection Bureau and the Federal Reserve Board jointly
published amendments to Regulation CC that implement a statutory
requirement to adjust for inflation the amount of funds depository
institutions must make available to their customers. The amendments apply
in circumstances ranging from next business day withdrawal of certain check
deposits to setting the threshold amount for determining whether an account
has been repeatedly withdrawn.
The
Dodd-Frank Act amendments require that the EFA Act’s dollar amounts be
inflation adjusted every five years by the annual percentage increase in
the Consumer Price Index for Urban Wage Earners and Clerical Workers
(CPI-W).
To help
ensure that institutions have sufficient time to implement the adjustments,
the compliance date for the adjusted amounts is July 1, 2020.
The
agencies are also implementing in Regulation CC the EFA Act amendments made
by the Economic Growth, Regulatory Relief, and Consumer Protection Act,
which include extending coverage of the EFA Act to American Samoa, the
Commonwealth of the Northern Mariana Islands, and Guam.
Covered
Topics:
- What are the new numbers and what has changed
- How to change your policy
- How to change your teller system
- How to calculate holds with new numbers
- Geographic changes and what they mean
- Teller Job Tools redefined
- Problems calculating holds with new numbers
- Updated Regulation CC training for tellers
Who
Should Attend?:
Compliance
Officers, Deposit Operations, Tellers, Teller trainers, Training and Branch
Staff. Please forward
email to appropriate person(s).
Instructor:
Deborah
Crawford is the President of
Gettechnical Inc., a Virginia based training company. She specializes in
the deposit side of the financial institution and is an instructor on IRAs,
BSA, Deposit Regulations and opening account procedures. She was formerly
with Hibernia National Bank (now Capital One) and has bachelor's and
master's degrees from Louisiana State University. She has 30+ years of
combined teaching and banking experience.
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