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CFPB RIN: 3170-AA31 Publication ID: Spring 2017 
Title: The Expedited Funds Availability Act (Regulation CC) 
Abstract:

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.  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 December 2013, the Board proposed revised amendments to certain Regulation CC provisions that are not subject to the CFPB's authority and extended the comment period to May 2014.  The CFPB will work with the Board to issue jointly a final rule that includes provisions within the CFPB's authority.

 
Agency: Consumer Financial Protection Bureau(CFPB)  Priority: Substantive, Nonsignificant 
RIN Status: Previously published in the Unified Agenda Agenda Stage of Rulemaking: Final Rule Stage 
Major: Undetermined  Unfunded Mandates: No 
EO 13771 Designation:  
CFR Citation: 12 CFR 229   
Legal Authority: 12 U.S.C. 4001 et seq.   
Legal Deadline:  None
Timetable:
Action Date FR Cite
NPRM  03/25/2011  76 FR 16862   
NPRM Comment Period End  06/03/2011 
Final Rule  06/00/2017 
Regulatory Flexibility Analysis Required: Undetermined  Government Levels Affected: None 
Small Entities Affected: Businesses  Federalism: No 
Included in the Regulatory Plan: No 
RIN Data Printed in the FR: No 
Related RINs: Related to 7100-AD68  Related Agencies: Joint: FRS; 
Agency Contact:
Joseph Baressi
Office of Regulations
Consumer Financial Protection Bureau
Phone:202 435-7700