Deposit Operations and Regulatory Compliance Checklist
This comprehensive deposit operations and regulatory compliance checklist ensures regulatory compliance with CFPB, FDIC, Federal Reserve, Reg E, Reg CC. Quarterly deposit operations compliance review for commercial banks covering Regulation E error resolution, Regulation CC funds availability, Regulation D reserve requirements, and FDIC deposit insurance disclosure per CFPB and FDIC requirements. Deposit compliance failures generate CFPB enforcement actions and customer harm findings. Complete a
- Industry: Financial Services & Banking
- Frequency: Monthly / Quarterly
- Estimated Time: 40 minutes
- Role: Compliance Officer / Branch Manager
- Total Items: 17
- Compliance: CFPB, FDIC, Federal Reserve, Reg E, Reg CC
Regulation E Error Resolution
Verify Reg E compliance per 12 CFR Part 1005.
- Are error notices acknowledged within 10 business days of receipt per Reg E 12 CFR 1005.11(c)?
- Is provisional credit provided within 5 business days for POS errors pending investigation completion?
- Are error investigations completed within 45 days (90 days for new accounts, POS, international) per Reg E?
- Are written determination letters sent to customers within 3 business days of completing investigation?
- Are fees and interest charges reversed when error is found in customer's favor?
Regulation CC Funds Availability
Verify Reg CC compliance per 12 CFR Part 229.
- Are funds availability disclosures provided to customers at account opening per Reg CC 12 CFR 229.15?
- Are next-day availability items (cash, US Treasury checks, FRBB checks) processed with correct availability?
- Are hold notices provided when deposit availability is delayed beyond standard schedule?
- Are exception holds applied only when permitted reasons exist and properly documented?
FDIC Insurance Disclosure
Verify FDIC disclosure per FDIC regulations.
- Is FDIC official sign posted at each teller station and ATM per FDIC Part 328 requirements?
- Are customer-facing staff trained on FDIC deposit insurance categories ($250,000 limit per category)?
- Are non-deposit investment products clearly identified as not FDIC insured with required disclosures at point of sale?
- Is FDIC notice displayed on bank website and mobile app per FDIC Part 328.4 requirements?
Interest Payment and Overdraft Compliance
Verify interest and overdraft disclosure compliance.
- Are Truth in Savings disclosures (APY, fees, terms) provided at account opening per Reg DD 12 CFR 1030?
- Is ATM and one-time debit card overdraft coverage provided only to customers who opted in per Reg E?
- Are overdraft fees charged per the fee schedule disclosed to customers and meeting UDAAP fairness standards?
- Are periodic statements sent per Reg E/DD requirements with correct fee disclosures?
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Why Use This Deposit Operations and Regulatory Compliance Checklist?
This deposit operations and regulatory compliance checklist helps financial services & banking teams maintain compliance and operational excellence. Designed for compliance officer / branch manager professionals, this checklist covers 17 critical inspection points across 4 sections. Recommended frequency: monthly / quarterly.
Ensures compliance with CFPB, FDIC, Federal Reserve, Reg E, Reg CC, Reg D. Regulatory-aligned for audit readiness and inspection documentation.
Frequently Asked Questions
What does the Deposit Operations and Regulatory Compliance Checklist cover?
This checklist covers 17 inspection items across 4 sections: Regulation E Error Resolution, Regulation CC Funds Availability, FDIC Insurance Disclosure, Interest Payment and Overdraft Compliance. It is designed for financial services & banking operations and compliance.
How often should this checklist be completed?
This checklist should be completed monthly / quarterly. Each completion takes approximately 40 minutes.
Who should use this Deposit Operations and Regulatory Compliance Checklist?
This checklist is designed for Compliance Officer / Branch Manager professionals in the financial services & banking industry. It can be used for self-assessments, team audits, and regulatory compliance documentation.
Can I download this checklist as a PDF?
Yes, this checklist is available as a free PDF download. You can also use it digitally in the POPProbe mobile app for real-time data capture, photo documentation, and automatic reporting.