Of the many federal and state laws regulating banks and other financial institutions, the Expedited Funds Availability (EFA) Act of 1987, implemented by Regulation CC, is still one of the most confusing and misapplied regulations – but it doesn’t have to be that way for your institution.
Imagine your frontline staff having the tools they need to accurately calculate deposit hold times at every transaction, without using a worksheet. CSI's WatchDOG for Reg CC compliance software ensures this capability and more by using innovative and cutting-edge technology to automatically calculate accurate hold times, validate check routing numbers, and print required customer disclosures to reduce your transaction time and cost.
By implementing WatchDOG for Reg CC Compliance Software, You Can Ensure:
- Consistent and accurately calculated hold amounts and hold dates for single or multiple instruments (according to your institution’s policy)
- Decreased compliance and operational risk due to inaccurate hold calculations
- A business day calculator tool that is configurable institution by institution
- Automatic user-configurable hold disclosure notices that are created and delivered for every transaction
- Reduced fraud from counterfeit checks
- Centralized searching and reporting capabilities, including searches of previous transactions
- Flexibility to place multiple holds, set cut-off times, and allow supervisor overrides
- Improved security as a result of customized security level access for different employees in your institution
We offer the only automated solution to deal with the complicated Reg CC rules related to your customers’ deposits. Seamlessly replace your manual Regulation CC process and create greater efficiency at your institution.
Contact CSI today to find out more about how WatchDOG for Reg CC can streamline your Reg CC process.
Brochure - WatchDOG for Reg CC