Expedited Funds Availability Act
Act passed by the U.S. Congress in 1987 / From Wikipedia, the free encyclopedia
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"EFAA" redirects here. For the airfield using that ICAO code, see Aavahelukka Airfield.
The Expedited Funds Availability Act (EFA or EFAA) was enacted in 1987 by the United States Congress for the purpose of standardizing hold periods on deposits made to commercial banks and to regulate institutions' use of deposit holds. It is also referred to as Regulation CC or Reg CC, after the Federal Reserve regulation that implements the act. The law is codified in Title 12, Chapter 41 of the US Code and Title 12, Part 229 of the Code of Federal Regulations.