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| *Ostroff, Fair and Company>>>Corporations |
1987 banking law question? |
in 1987 the expedited fund availability Act has passed a law requiring bank to have deposit check available on the next business day. This practice has affected the bank industry greatly resulting to billions of dollars in losses. How does this law affect bank tellers of today? What challenges are there for banks? You might want to check your facts. Also spell check will tell you if a word is spelled incorrectly but, not if you chose the wrong word. Hopefully English is not your native language because anyone who has the desire to ask this question should know the difference between proper use of "there" and "their". That's not exactly what the Expedited Funds Availability act, or Reg CC did. You might want to look into that before asking another question, but anyways. Reg CC "regulates" deposit holds on accounts, it doesn't mean that the funds are available the next day. It doesn't affect tellers today. The holds that are placed on deposits today falls right into those regulations, so no matter how much you complain, it's still totally legal. Bite the bullet and wait the two or three business days like everybody else in America. Myself, bank customer service employee for 3 years. |
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