Question:
In regards to the six-transaction limit imposed in Regulation D, can a bank reduce this limit to only two transactions? Answer: Yes, the bank may set stricter limits than required under Reg. D. There is not a prohibition in doing using a stricter limit as long as it is disclosed in the bank's account agreement to avoid any potential UDAAP issues. Comments are closed.
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March 2020
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To learn how to put them to work for your bank, call (888) 353-3933 or email info@compliancealliance.com. |