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Reg CC Place Exception Hold On Entire Deposit?

Answered by: 
John Burnett

Question: 
According to Reg CC is the exception hold placed on the entire deposit or can the hold be placed on a specific check within that deposit? Where in the Reg do I find this answer?
Answer: 

It is placed on the portion of the deposit consisting of checks. In fact, it can be placed on the portion of aggregated deposits on a business day to the account of the depositor, consisting of checks. Or it can be placed on a portion of the deposit, such as a specific check. Or more than one hold can be placed, such as a case-by-case hold on the first $5,000 of a deposit consisting of other than next-day checks, and a large deposit hold on the remainder of those checks.

First published on BankersOnline.com 7/15/13

First published on 07/15/2013

Filed under: 
Compliance
Filed under compliance as: 
Checks
IT

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