A Pennsylvania federal district court recently held that Regulation J did not completely preempt state law claims related to a wire transfer, and thus did not fall under the “complete preemption” exception to the “well-pleaded complaint rule.” Reg J deals with the collection of checks and other items by Federal Reserve Banks and fund transfers through Fedwire.… Continue Reading
Regulation J
Federal Reserve Board requests comments on proposed amendments to simplify and harmonize Regulation J
By Ballard CFS Group on
Posted in Federal Reserve Board, Regulatory and Enforcement
On Tuesday the Federal Reserve published proposed amendments to Regulation J (Collection of Checks and Other Items by Federal Reserve Banks and Funds Transfers through Fedwire) which are intended to clarify and simplify certain provisions of Regulation J that no longer aligned with Regulation CC (Availability of Funds and Collections of Checks) following its amendments, after it was amended in 2017.… Continue Reading