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The Federal Reserve Banks Introduce New Check Adjustment Options Resulting from the New Indemnities Defined in Regulation CC Amendments
*This article was originally published May 22, 2018, at FRBServices.org.
The approved amendments to Regulation CC (Reg CC) [have] become effective on July 1, 2018. These amendments reflect the evolution of the nation’s check collection process from largely paper-based to virtually all electronic and include new indemnities that will impact the adjustments accepted by the Federal Reserve Banks.