CUNA strongly supports the Federal Reserve’s decision to remove the limit of account transfers under Regulation D and suggested to the Fed Monday it become permanent. The Fed announced an interim final rule in April removing the limit.
The Federal Reserve Board Friday announced an interim final rule to amend Regulation D to delete the six-per-month limit on convenient transfers from the "savings deposit" definition. CUNA recently increased its engagement on behalf of consumers during the COVID-19 pandemic.
CUNA continued its push for the Federal Reserve to remove the monthly account transfer limit under Regulation D with a letter Monday. CUNA previously called for the removal of the limit to easier access to funds during the COVID-19 pandemic.
Credit Union Magazine’s special 2020 Credit Union Rock Stars edition celebrates creative, innovative, and passionate professionals and volunteers working to advance the missions of their credit unions.