A customer wants to close a CD that she opened yesterday. We understand that she needs to pay the penalty, but some of us were under the impression that you can't close a CD within 7 days of opening.
Does anyone know? Is this regulation?

The regulation requires that you impose a 7-day simple interest penalty on any withdrawal made within the first six days after the deposit. There are a few exceptions to the rule found in Footnote 1 to Regulation D. There is no prohibition against early withdrawals in the regulation.

The bank retains discretion on whether it will permit an early withdrawal.