ICBA urges Fed to suspend transaction limits

Mar 25, 2020
As part of its response to the coronavirus outbreak, ICBA called on the Federal Reserve Board to immediately suspend Regulation D transaction limits for at least 12 months.

Regulation D limits customers to six transfers or withdrawals within their savings and money market accounts per month. In a letter to the Fed, ICBA noted that transfers will increase as consumers limit travel and respond to financial pressures related to COVID-19.