Limits on Savings Account Transfers – An Update


$225.00

Presented by: John Burnett
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On April 24, the Federal Reserve Board announced it was removing the Regulation D "six-per-month" limitation on transfers and withdrawals from savings accounts. That followed on the heels of the Fed's reduction of reserve requirements to 0% on all types of deposits.

Depository institutions that have adhered to the old transfer limitation for decades suddenly have an opportunity to decide whether to keep those limits in place, eliminate them, or fashion simpler, less challenging restrictions in a redesign of their savings account offerings.

In this fast-paced ONE-HOUR webinar, John Burnett will quickly review the Fed's action, and explain its impact on depository institutions and their customers.

Topics to be covered include -
  • Impact of eliminating restrictions
  • Eliminating the restrictions temporarily
  • Crafting your own limitations
  • Is monitoring activity a dead issue?
  • Use of fees to limit transfers
  • Reviewing your deposit contracts
  • Retaining the "right to require notice" provision
  • Implications for the Call Report and FR 2900
About the Speakers: John Burnett is a 1979 alumnus of the ABA National Compliance School, and served on its faculty for several years. He graduated with honors with the Class of 1990 from ABA's Stonier Graduate School of Banking. He is also a graduate of the BAI's and the Massachusetts Banker Association's Schools of Banking.

He joined Cape Cod Bank and Trust Company in 1971 and assumed his role as Compliance Officer in 1976. He also served as corporate secretary and secretary of CCBT's Board of Directors, as well as Clerk of the bank's holding company. John joined Glia Group, Inc., and became a part of the BOL Team in June, 2004.

Mr. Burnett is a former member chair of the Massachusetts Bankers Association Legal and Regulatory Compliance Committee, and of the American Bankers Association Compliance Executive Committee and NCS/NGCS Advisory Board. He served on ABA's Truth in Savings Task Force, and has served on several ABA and Massachusetts Bankers seminar panels.

This program was recorded in its entirety in May 2020. The CD-ROM includes program slides, materials (if available) and follow-up Q & A document.

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  • Model: cd_regd0520
  • Manufactured by: Glia Group, Inc.


This product was added to our catalog on Monday 27 April, 2020.

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