Webinar: New Beneficial Ownership Rule: Lessons Learned
August 14, 2024 3:00 pm - 4:30 pm
The new Reg CC thresholds were just released in May.
Do you know the steps to ensure compliance by the July 1, 2025, effective date? Attend this timely webinar to learn about creating an action plan, revising affected documents, and preparing for a smooth transition.
AFTER THIS WEBINAR YOU’LL BE ABLE TO:
- Understand the new numbers for case-by-case holds, large deposits, and new accounts
- Determine when to make changes that are required by July 1, 2025, or before
- Prepare staff forms for the new numbers
- Know how to revise your disclosures for Regulation CC
- Adhere to signage compliance changes
- Revise the special rules for new accounts
- Adopt an action plan for an easy transition
WEBINAR DETAILS
The Consumer Financial Protection Bureau (CFPB) and the Federal Reserve Board jointly adjusted dollar amounts for inflation relating to the availability of accountholder funds. These Regulation CC changes include the minimum amount of deposited funds that financial institutions must make available for withdrawal by opening of business on the next day for certain check deposits, as well as the amount of funds deposited by certain checks in a new account that are subject to next-day availability.
By law, the agencies are required to adjust these dollar thresholds every five years by the annual percentage increase in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W). The inflation measurement period for this adjustment began in July 2018 and ended in July 2023. Released May 13, 2024, these changes will be effective July 1, 2025. Now is the time to prepare!
WHO SHOULD ATTEND?
This informative session is designed for compliance staff, tellers, teller supervisors, trainers, branch operations, and anyone who works with holds.
TAKE-AWAY TOOLKIT
- Regulation CC handbook, including case studies, problems, checklists, and sample language for revisions
- Employee training log
- Interactive quiz
- PDF of slides and speaker’s contact info for follow-up questions
- Attendance certificate provided to self-report CE credits
Speaker: Deborah L. Crawford, GetTechnical Inc.
Deborah Crawford is the President of Gettechnical Inc., a Florida-based firm specializing in the education of financial institutions across the nation. Her 30+ years of experience began at Hibernia National Bank in New Orleans. She graduated from Louisiana State University with both her bachelor’s and master’s degrees. Debbie specializes in the education of financial institution employees and officers in the areas of deposit account laws, new account documentation, insurance, complex compliance regulations, and IRAs.