The Federal Reserve and Consumer Financial Protection Bureau (CFPB) finalized amendments to Regulation CC to implement a statutory adjustment to adjust the dollar amounts under the Expedited Funds Availability (EFA) Act for inflation. The final rule is effective July 1, 2020.

The dollar amounts will be adjusted every five years, beginning July 1, 2020. The next adjustment of the dollar amounts will occur on July 1st, 2025, and on July 1st of every fifth year after 2025.

  • The minimum amount of deposited funds that credit unions must make available for withdrawal by opening of business on the next day for certain check deposits is $225 (up from the current $200);
  • The amount a credit union must make available when using the EFA Act’s permissive adjustment to the funds-availability rules for withdrawals by cash is $450 (up from the current $400);
  • The amount of funds deposited by certain checks in a new account that are subject to next-day availability is $5,525 (up from the current $5,000);
  • The threshold for using an exception to the funds-availability schedules if the aggregate amount of checks on any one banking day exceeds the threshold amount is $5,525 (up from the current $5,000);
  • The threshold for determining whether an account has been repeatedly overdrawn is now $5,525 (up from the current $5,000).