Are Savings Accts Governed Under Reg CC?

Answer: 

No. Regulation CC only applies to "transaction" accounts as defined by Regulation D.

Note:

Some states have statutes that mandate funds availability for savings accounts.

Distributing a Regulation CC disclosure when a savings account is opened certainly creates a reasonable impression with the customer that the limitations on holds apply.

Some banks voluntarily impose the same limitations on holds on savings accounts that they do on transaction accounts.

First published on BankersOnline.com 2/11/13