Bank Of America
Regulation CC Loophole Lets Banks Release Funds on Fraudulent Check
Sec. 229.10 of Regulation CC on Availability of Funds concerns Next-day availability. Sec. 229.12 (b) states that there may be further delays in availability for nonlocal checks, and Sec. 229.13 (b) states that additional delays are allowed for large deposits (i.e., over $5,000). These regulations ...