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Dodd – Frank Wall Street Act

In July 2010, Congress passed the Dodd Frank Wall Street Act. This is the most significant legislation since the Great Depression, which is designed to: – promote the financial stability of the United States by improving accountability and transparency in … Continue reading

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Regulation E, Regulaztion Z and Regulation DD

Regulation E 12 CFR Part 205 Docket No. R-1377 Electronic Fund Transfers The Board is amending Regulation E, which implements the Electronic Fund Transfer Act, and the official staff commentary to the regulation, which interprets the requirements of Regulation E. … Continue reading

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REG GG: UNLAWFUL INTERNET GAMBLING ENFORCEMENT ACT

The Department of Treasury and the Federal Reserve Board have finalized Regulation GG, to implement the Unlawful Internet Gambling Enforcement Act of 2006. The law requires financial institutions that provide services to commercial customers, such as ACH clearing, check clearing … Continue reading

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MT 202 COV PAYMENT

WHAT IS MT 202 COV PAYMENT???? New SWIFT Message Format went live on November 21, 2009. In October 2007 there was a recommendation (guidance) from the Basel Committee on Banking Supervision in reference to MT COV 202. Wolfsberg Group and … Continue reading

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Regulation CC – Expedited Funds Availability Act

Purpose The purpose of Regulation CC is to standardize and limit the hold periods placed on checks deposited to transaction accounts, and to ensure the adequate disclosure of funds availability policies to customers. Summary/Requirements Next-Day Availability Deposits of the following … Continue reading

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FACT Act – Identity Theft Red Flags & Address Discrepancies

ARE YOU READY FOR NOVEMBER 1ST, 2008 The OCC, Board, FDIC, OTS, NCUA and FTC (the Agencies) are jointly issuing final rules and guidelines implementing section 114 of the Fair and Accurate Credit Transactions Act of 2003 (FACT Act) and … Continue reading

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