Article: Regulation D amendments take effect

May 05, 2020

The Federal Reserve Board has issued an interim final rule, effective immediately, to amend Regulation D to eliminate the six-per-month limit on “convenient” transfers from the definition of a savings deposit.

In a new article, ICBA Preferred Service Provider Wolters Kluwer writes that, as a result, financial institutions may need to review and change their products, review their funds availability policies, and make any corresponding system and accountholder disclosure updates. Read the article.