what is regulation cc 
regulation cc is one of the banking regulations set forth by the federal reserve regulation cc implements the expedited funds availability act efaa of 1987 and the check clearing for the 21st century act check 21 these laws set specific requirements for the timely availability of deposits that are made by customers into transaction accounts these laws addressed the lengths of hold times banks previously placed on checks deposited by customers 1understanding regulation ccregulation cc is designed to require financial institutions to correctly process deposited checks on a timely basis unpaid checks are also required to be immediately returned to the paying bank 1congress instituted the expedited funds availability act of 1987 because of concerns regarding the length of time holds were being placed on checks by banks after customers had deposited them the expedited funds availability act created a maximum hold period for checks regulation cc put into effect the disclosure and funds availability provisions of the legislation 1regulation cc requires financial institutions to provide account holding customers with disclosures that indicate when deposited funds will be available for withdrawal 2