Regulatory Alerts2021-03-29
CA 21-6: Suspension of Regulation D Examination Procedures
The Board of Governors of the Federal Reserve System issued this directive to suspend its consumer compliance examiners' use of Regulation D Examination Procedures. This action aligns with an interim final rule that removes the six-per-month limit on convenient transfers from savings deposits, thereby eliminating the need for institutions to monitor or enforce these transaction caps. While the suspension reduces compliance burdens for institutions, they must continue to adhere to Regulation DD disclosure requirements to ensure consumer financial protection remains intact.
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