There's nothing specific in the regulation or in the comments the Fed has published about the rule. However, that doesn't mean you can't give access back after whatever you deem to be a suitable time -- I'd suggest it has to be at least a couple of months -- but I would only do so if you have a well-defined and strict policy for doing so. This is not something I would allow your branches to administer; it needs to be centrally managed. I do think you need to let the customer know there will not be a "three strike" allowance this time around. Stepping beyond the limits in one month ought to be sufficient to pull the plug the next time, and there should not be a third chance for the customer.
Please note that all of that is my opinion. It hasn't been blessed by any regulator that I'm aware of.
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John S. Burnett
BankersOnline.com
Fighting for Compliance since 1976
Bankers' Threads User #8