The CFPB and Federal Reserve Board jointly published final amendments to Regulation CC that implement a requirement to adjust for inflation the amount of funds depository institutions must make available to their members and customers.

The final amendments apply in circumstances ranging from the next business day withdrawal of certain check deposits to setting the threshold amount for determining whether an account has been repeatedly withdrawn.

Regulation CC implements the Expedited Funds Availability Act of 1987. The Dodd-Frank Act amended the EFA Act to grant the bureau and the board joint rulemaking authority for funds-availability schedules, disclosure policies, payment of interest, and other EFA Act provisions implemented by Regulation CC.

The Dodd-Frank Act amendments require that the EFA Act’s dollar amounts be inflation adjusted every five years by the annual percentage increase in the Consumer Price Index for Urban Wage Earners and Clerical Workers.

The compliance date for the adjusted amounts is July 1, 2020.