Start Date: 8/14/2024 9:00 AM MDT
End Date: 8/14/2024 10:30 AM MDT
Location:
United States
The Consumer Financial Protection Bureau (CFPB) and the Federal Reserve Board jointly adjusted dollar amounts for inflation relating to the availability of accountholder funds. These Regulation CC changes include the minimum amount of deposited funds that financial institutions must make available for withdrawal by opening of business on the next day for certain check deposits, as well as the amount of funds deposited by certain checks in a new account that are subject to next-day availability.
By law, the agencies are required to adjust these dollar thresholds every five years by the annual percentage increase in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W). The inflation measurement period for this adjustment began in July 2018 and ended in July 2023. Released May 13, 2024, these changes will be effective July 1, 2025. Now is the time to prepare!
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