On the fed webinar it was mentioned 12/15/11.
http://www.philadelphiafed.org/bank-reso...2011/121511.pdfPage 24
Repeal of Regulation Q
– Effective July 21, 2011 – No longer have restrictions on NOW account eligibility
– Section 343 of Dodd-Frank Act provides unlimited deposit insurance for noninterest
bearing accounts through 12/31/2012
– FDIC issued FIL-38-2011: If institutions pay interest, must notify customers
account no longer eligible for unlimited deposit insurance cover
Did someone forger to tell them about Sec. 204.130 Eligibility for NOW Accounts?