Availability of Funds and Collection of Checks (Reg. CC).
This Federal Reserve Board regulation governs the availability of funds deposited in checking accounts and the collection and return of checks.
229.13 Exceptions.
(g) Notice of exception.
(5) Record retention. A depositary bank shall retain a record, in accordance with § 229.21(g), of each notice provided pursuant to its application of the reasonable cause exception under paragraph (e) of this section, together with a brief statement of the facts giving rise to the bank’s reason to doubt the collectability of the check.