Deposit Compliance Series: Reg CC passport Enhanced Due Diligence (EDD)

Enhanced Due Diligence (EDD)

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Explain what Regulation CC is

Privacy Concerns: Delve Into How AI Impacts Personal Privacy and Data Protection

Deposit Compliance Series: Reg CC passport Enhanced Due Diligence (EDD)Reg CC is a confusing mess the Cussing and Cursing regulation. Reg CC all about the Availability of Funds and Collection of Checks. What does that mean? At one time, financial institutions held newly deposited funds for as long as they liked, to ensure they received the money before releasing it to the depositor. In theory, that was great, but abuses prevailed. Customers didnt know when their money was actually theirs to use, and Congress stepped in.