I have on a number of occasions when speaking about Reg CC mentioned the Bay State as an example of a state where Reg CC coverage was extended to more than transaction accounts. It's time to admit that I missed some significant changes in state law that will give the lie to those statements.

A Bay State correspondent emailed me a couple of days ago and asked if I could back up that claim that savings accounts are subject to Reg CC in Massachusetts and pointed to a Session Law from 2014. Sure enough, that law made some significant changes to the banking statutes in the state and one of those changed eliminated the provision in 167D that pulled savings accounts under the Reg CC umbrella.

So, my friends, I offer my apologies if you heard or saw me claim that savings accounts are covered. They haven't been since 2015. State law now simply says (on this question), follow the Expedited Funds Availability Act and Reg CC.