The Expedited Funds Availability Act (EFA Act), implemented by Regulation CC, governs availability of funds after a check deposit and check collection and return processes.  Section 1086 of the Dodd-Frank Wall Street Reform and Consumer Protection Act amended the EFA Act to provide the CFPB with joint rulemaking authority with the Board of Governors of the Federal Reserve System (Board) over certain consumer-related EFA Act provisions. Section 1086 also states that the dollar amounts under the EFA Act shall be adjusted for inflation every five years after December 31, 2011. The first adjustment for inflation has not yet been made. The Board proposed amendments to Regulation CC in March 2011 to facilitate the banking industry’s ongoing transition to fully electronic interbank check collection and return. The Board’s proposal includes some provisions that are subject to the CFPB’s joint rulemaking authority, including the period for funds availability and revising model form disclosures. In addition, in June 2017, the Board finalized amendments to certain Regulation CC provisions that are not subject to the CFPB’s authority. The CFPB will work with the Board to issue jointly a proposal for implementing the statutory requirement to adjust for inflation the dollar amounts in the EFA Act.