Regulation CC: 01 Expedited Funds Availability Act Basics

Regulation CC: 01 Expedited Funds Availability Act Basics

Course overview

Before 1987, back when paper checks were still a thing, MTV still aired music videos, and big hair was a MUST, many banks were holding deposits basically for as long as they wanted, before crediting consumers' accounts. “Gimme my money!” Am I right? Due to obvious public concern, congress passed the Expedited Funds Availability Act, or EFAA. The act limits the fund holding periods for all U.S. banks, savings institutions, and credit unions. This act led to many banking changes, which we'll get to throughout this series, but in this first course, we'll talk about the basics of the EFAA.

The individuals involved in the development and promotion of this course do not receive any compensation or financial benefits outside of their regular employment for their work on this course.


  • 10 minutes
  • Format: Video
  • Tier: 1
  • Course ID: 8145
Language Icon English
Close Menu