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#2270866 - 05/25/22 02:30 PM Reg D Restrictions Optional
Anonymous
Unregistered

Are bank is now thinking of waiving the restrictions for 6 transactions.

If it does, can it be for certain deposit products or all?

Thanks.

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#2270868 - 05/25/22 03:01 PM Re: Reg D Restrictions Optional Anonymous
rlcarey Online
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rlcarey
Joined: Jul 2001
Posts: 83,228
Galveston, TX
Totally a business decision
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#2270869 - 05/25/22 03:19 PM Re: Reg D Restrictions Optional Anonymous
Anonymous
Unregistered

Also, after the change, all applicable bank documentation needs to be updated with the changes (obviously) and should all effected customers be properly notified at least 30 days prior to the change?

Thanks.

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#2270884 - 05/25/22 05:36 PM Re: Reg D Restrictions Optional Anonymous
John Burnett Offline
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John Burnett
Joined: Oct 2000
Posts: 40,086
Cape Cod
There isn't a requirement for notification because the change means a restriction on use of the account is being lifted. That said, there's no reason not to share welcome news.
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