Reg CC Blog Correction
By Amy Kudlacek
Oops! Even compliance experts make mistakes. In our July 14th blog, we stated that the Federal Reserve's plan is to have one check processing region by the end of 2010. This is incorrect as they plan to reach this goal by the end of 2009.
Since this is only about 6 months away, rather than updating your disclosures you might consider just treating all checks as local checks.
Maybe we were just being realistic. When it comes to compliance, when does anything ever get accomplished on schedule? 