WASHINGTON – The Federal Reserve Board announced several changes to Regulation CC on Feb. 8 that further implement its restructuring strategy for its check processing operations. Effective March 26, the Birmingham branch office of the Federal Reserve Bank of Atlanta will no longer process checks, and banks currently served by that office will be reassigned to the Reserve Bank's head office in Atlanta. As a result of the changes, some checks deposited in the affected regions will become local checks that are subject to shorter permissible hold periods.
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