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Effective Date: Final Amendments to Regulation J

The Board of Governors of the Federal Reserve System (Board) is publishing final amendments to Regulation J. The amendments clarify and simplify certain provisions of Subpart A of Regulation J, remove obsolete provisions, and align the rights and obligations of sending banks, paying banks, and Federal Reserve Banks (Reserve Banks) with the Board’s recent amendments to Regulation CC, Availability of Funds and Collection of Checks (12 CFR part 229), to reflect the virtually all-electronic check collection and return environment. The final rule also amends subpart B of Regulation J to clarify that terms used in financial messaging standards, such as ISO 20022, do not confer legal status or responsibilities. Read more here

  • January 1, 2019
  • Time: All Day