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RemoteDepositCapture.com Launches Industry Survey, to Host Webinar Spotlighting Upcoming Reg CC Changes, Industry Readiness

Thursday, March 15, 2018 (RemoteDepositCapture.com / RemoteDepositCapture.com)

New survey, launched today, seeks to understand what financial institutions are doing to prepare for upcoming changes in Federal Reserve Reg CC. Webinar to offer expert insights to support action plans.
Amendments to Federal Reserve Regulation CC, set to take effect in just over 3 months, should alleviate concerns around thorny issues like dealing with duplicate deposits. Benefitting from these changes, however, may require changes in the policies, procedures and solutions that support financial institutions’ remote deposit capture offerings. Two new initiatives, announced today by RemoteDepositCapture.com, will provide insights on implications of the upcoming regulatory changes and what financial institutions can and are doing to prepare.
 
Update: The survey is now closed. The Reg CC Industry Preparedness Survey has been distributed to several thousand FIs and also is being made available online for FI product managers interested in participating. The survey will explore what actions FIs are undertaking in preparation for the upcoming regulatory changes.
 
The Fed announced amendments to Reg CC last June, with an effective date of July 1, 2018. RemoteDepositCapture.com has already posted several articles on this topic which can be found by clicking here. The amendments seek to encourage electronification of image returns and add an indemnity provision to the rule set to protect from losses FIs that accept deposits of paper checks that previously were deposited at other FIs via RDC. The indemnity does not apply, however, if the paper check deposit contains a restrictive endorsement, such as “for mobile deposit only to Bank XYZ.”
 
Many of the survey questions will focus on FI policies and procedures for restrictive endorsements, as well as the state of technology and process changes needed to verify customer adherence to these policies.
 
Survey findings will be one of the highlights of an April 23 Webinar – 67 Days and Counting…Is Your Bank Ready for the July Reg CC Changes and Restrictive Endorsements? – presented by RemoteDepositCapture.com and sponsored by Orbograph. The webinar will provide a streamlined analysis of Reg CC changes, highlight the main implications and address technologies, policies and procedures to be considered. Click here now to learn more and to register for this important upcoming webinar.

 
 
 
 
 
 
 
 


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