As most of you probably know, we have been expecting a revised Regulation CC for years now. Sure, there were a few updates to Subparts A, C & D, such as new requirements for mobile deposit endorsements that went into effect on July 1, 2018, but what we are really waiting on are the revisions to Subpart B. In the meantime, however, banks are still required to comply with the rules of Subpart B of Regulation CC, including hold time frames for deposits, account disclosures, and additional disclosure requirements. While these rules have been around for years, we still continue to see questions and misunderstandings about some of these rules. In particular, I received a question this week regarding the lobby disclosure requirements under regulation CC.
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