share$447,125
Oriental Bank pays $447,125 for flood insurance violations
Issued by FDIC
Regulation CC - Availability of Funds and Collection of Checks
Reg Letter:
CC
Issuing Agency:
FRB Letter Classification:
Reg info:
12 CFR Part 229CAVEAT: References in this regulation to nonlocal checks are no longer effective. Nonlocal checks, by definition, ceased to exist when the Federal Reserve System finished its consolidation of check processing regions to a single region in 2010.
The Federal Reserve Board and Consumer Financial Protection Bureau have issued amendments to adjust for inflation certain dollar amounts in Regulation CC, with an effective date of July 1, 2025. In the text below, the adjusted dollar amount is inserted after the current dollar amount in [red-bracketed text].
- Subpart A—General
- Sec. 229.1 - Authority and purpose; organization.
- Sec. 229.2 - Definitions.
- Sec. 229.3 - Administrative enforcement.
- Subpart B—Availability of Funds and Disclosure of Funds Availability Policies
- Sec. 229.10 - Next-day availability.*
- Sec. 229.11 - Adjustment of dollar amounts.*
- Sec. 229.12 - Availability schedule.*
- Sec. 229.13 - Exceptions.*
- Sec. 229.14 - Payment of interest.
- Sec. 229.15 - General disclosure requirements.
- Sec. 229.16 - Specific availability policy disclosure
- Sec. 229.17 - Initial disclosures.
- Sec. 229.18 - Additional disclosure requirements.
- Sec. 229.19 - Miscellaneous.*
- Sec. 229.20 - Relation to state law.*
- Sec. 229.21 - Civil liability.*
- Subpart C—Collection of Checks
- Sec. 229.30 - Electronic checks and electronic information.
- Sec. 229.31 - Paying bank's responsibility for return of checks and notices of nonpayment.
- Sec. 229.32 - Returning bank's responsibility for return of checks.
- Sec. 229.33 - Depositary bank's responsibility for returned checks and notices of nonpayment.
- Sec. 229.34 - Warranties and indemnities
- Sec. 229.35 - Indorsements.
- Sec. 229.36 - Presentment and issuance of checks.
- Sec. 229.37 - Variation by agreement.
- Sec. 229.38 - Liability.
- Sec. 229.39 - Insolvency of bank.
- Sec. 229.40 - Effect of merger transaction.
- Sec. 229.41 - Relation to state law.
- Sec. 229.42 - Exclusions.
- Sec. 229.43 - [Reserved.]
- Subpart D—Substitute Checks
- Sec. 229.51 - General provisions governing substitute checks.
- Sec. 229.52 - Substitute check warranties.
- Sec. 229.53 - Substitute check indemnity.
- Sec. 229.54 - Expedited recredit for consumers.
- Sec. 229.55 - Expedited recredit for banks.
- Sec. 229.56 - Liability
- Sec. 229.57 - Consumer awareness.
- Sec. 229.58 - Mode of delivery of information.
- Sec. 229.59 - Relation to other law.
- Sec. 229.60 - Variation by agreement.
- Appendices
- Appendix A to Part 229--Routing Number Guide to Next-Day Availability Checks and Local Checks
- Appendix B to Part 229--[Reserved]
- Appendix C to Part 229-Model Availablity Policy Disclosures, Clauses, and Notices; Model Substitute Check Policy Disclosure and Notices
- Appendix D to Part 229 - [Reserved]
- Appendix E to Part 229—Commentary
- Appendix F to Part 229--Official Board Interpretations; Preemption Determinations
- Federal Register documents affecting this regulation.
First published on:
12/10/2013
Banker Tools View All
A collection of useful resources for various areas of the bank which have been developed by members of the BankersOnline staff or have been created and contributed by users of the BankersOnline site.
Banker ToolsPenalties View All
$1,500
Spring Valley Bank pays $1,500 for flood insurance rules violations
Issued by FDIC
$13,000
CNB Bank pays $13,000 for flood insurance rules violations
Issued by FDIC
$80,500
Guaranty Bank and Trust pays $80,500 flood insurance penalty
Issued by FDIC
$2,000
Collins State Bank pays $2,000 for flood insurance violations
Issued by FDIC
$31,000
Opportunity Bank of Montana pays $31,000 for flood insurance violations
Issued by FRB
$70,000
First Interstate Bank pays $70,000 flood insurance penalty
Issued by FRB
$4,800
North Shore Bank of Commerce pays $4,800 for flood insurance violations
Issued by FRB
$9,600
Select Bank pays $9,600 for flood insurance violations
Issued by FRB
$2,945,500
Regions Bank pays $2.95M for flood insurance violations
Issued by FRB
$2,614,456
PNC Bank, NA, pays $2.6M for flood insurance violations
Issued by OCC
$3,620,000
Michigan bank pays $3.6 million for flood insurance penalties
Issued by OCC
$40,500
Washington Federal pays flood penalty
Issued by OCC
$193,105.50
The Federal Savings Bank pays $193K flood penalty
Issued by OCC
$382,500
USAA FSB pays $382,500 flood insurance penalty
Issued by OCC
$3 BILLION
TD Bank to pay $3 billion and restrict growth for BSA/AML deficiencies
$100,000
Former credit union BSA officer fined $100K for multiple BSA violations
Issued by FinCEN
$25 million
Shinhan Bank America fined $25M by FDIC, FinCEN, and NYSDFS
Issued by FDIC, FinCEN, State Agency
$15 million
Puerto Rican IBE pays $15M for willful BSA violations
Issued by FinCEN
$1,500,000
Kingdom Trust Company pays $1.5M BSA penalty
Issued by FinCEN
$600,000
Bank of Morton ordered to pay $600,000 for BSA violations
Issued by FDIC
$25 million
Shinhan Bank America fined $25M by FDIC, FinCEN, and NYSDFS
Issued by FDIC, FinCEN, State Agency
$7,500,000
Bancorp Bank pays BSA/AML penalty
Issued by FDIC
$225,000
California Pacific Bank to pay BSA/AML penalty
Issued by FDIC
$1,250,000
Alma Bank - BSA/AML penalty
Issued by FDIC
$3 BILLION
TD Bank to pay $3 billion and restrict growth for BSA/AML deficiencies
$29,478,676
Metropolitan Commercial Bank fined $29.5M for CIP and vendor risk deficiencies
Issued by FRB, State Agency
$55.4 million
National Bank of Pakistan pays $55.4M for AML violations
Issued by FRB, State Agency
$15 million
U.S. Bancorp pays $15M for BSA/AML failures
Issued by FRB
$29 million
Mega International Commercial Bank pays $29M BSA penalty
Issued by FRB, State Agency
$3 BILLION
TD Bank to pay $3 billion and restrict growth for BSA/AML deficiencies
$6,000,000
Sterling Bank and Trust FSB pays $6 million for failings
Issued by OCC
$9 million
CommunityBank of Texas fined for BSA/AML violations
$2,500,000
Washington Federal Bank pays $2.5M BSA/AML penalty
Issued by OCC
$39,000
NJ bank director and BSA officer pay for BSA violations
Issued by OCC
$38 million
Interactive Brokers LLC paying $38M for BSA/AML failures
$12,500,000
Bank of China NY Branch gets BSA fine
$1,300,000
Aegis Capital assessed $1.3 million for SAR filing failures
$16.5 million
FINRA fines Credit Suisse Securities $16.5M for AML faults
Issued by FINRA
$300,000
Albert Fried & Company pays for SAR failures
Issued by SEC
$20M plus $7.76M redress
CFPB orders TD Bank, N.A. to pay $27.76 million for credit reporting violations
Issued by CFPB
$7,452,501
State Street settles for $7.5M penalty with OFAC
Issued by OFAC
$6,097.72
Utah bank fined for failure to pay FDIC assessment
Issued by FDIC
$250,000,000
OCC fines JPMorgan Chase Bank, N.A. for inadequate monitoring
Issued by OCC
$98,167,980
Fed fines JPMorgan Chase & Co. $98.2M for inadequate monitoring
Issued by FRB