C.F.R. » Title 12 » CHAPTER II—FEDERAL RESERVE SYSTEM › SUBCHAPTER A—BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM › PART 229—AVAILABILITY OF FUNDS AND COLLECTION OF CHECKS (REGULATION CC) › Subpart B—Availability of Funds and Disclosure of Funds Availability Policies

12 C.F.R. § 229.15

General disclosure requirements

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(a) Form of disclosures. A bank shall make the disclosures required by this subpart clearly and conspicuously in writing. Disclosures, other than those posted at locations where employees accept consumer deposits and ATMs and the notice on preprinted deposit slips, must be in a form that the customer may keep. The disclosures shall be grouped together and shall not contain any information not related to the disclosures required by this subpart. If contained in a document that sets forth other account terms, the disclosures shall be highlighted within the document by, for example, use of a separate heading.

(b) Uniform reference to day of availability. In its disclosure, a bank shall describe funds as being available for withdrawal on “the __________ business day after” the day of deposit. In this calculation, the first business day is the business day following the banking day the deposit was received, and the last business day is the day on which the funds are made available.

(c) Multiple accounts and multiple account holders. A bank need not give multiple disclosures to a customer that holds multiple accounts if the accounts are subject to the same availability policies. Similarly, a bank need not give separate disclosures to each customer on a jointly held account.

(d) Dormant or inactive accounts. A bank need not give availability disclosures to a customer that holds a dormant or inactive account.

Notes of Decisions
Cited in 2 cases, 2006–2016 · leading case: Bennett v. Broderick, 858 N.E.2d 1044 (Ind. Ct. App. 2006).
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Bennett v. Broderick, 858 N.E.2d 1044 (Ind. Ct. App. 2006). “12 C.F.R. § 229.15 . 5 . Bennett's bank statement shows that his balance beginning June 26, 2005, was $8896.”
Joshua Shapiro v. Am.'s Credit Union, 650 F. App'x 447 (9th Cir. 2016). “12 C.F.R. § 229.15 . The Membership and Account Agreement expressly describes this policy.”
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