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Compliance Alliance Question of the Week

2/18/2020

 
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. 

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