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Reg D Change for CUs and Banks?

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I work for an FDIC bank in central Illinois. Some Credit Unions in the area are changing how customers can access their accounts due to a change in Reg. D. Are there changes that should be affecting my bank?

The main change you're probably seeing relates to recent Reg D changes to the definition of "savings account" that eliminates the three per month restriction on certain types of transfers. Effective July 2, tranfers are limited to six per month on all types of transfers from a savings account. For more detail, you can read about the changes here.

First published on 8/17/09

First published on 08/17/2009

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