Regulation CC Changes:
Effective 6/1/2020, we are increasing the amount we make available for withdrawal by checks not subject to next day availability from $200 to $225. In addition, the amount available for withdrawal on exception holds for large deposits, new accounts and the amount for determining a repeat overdraft is increasing from 5,000 to $5,525.
Regulation D Changes:
In the past, Federal Regulations limited ‘specific’ debit transactions to six (6) per month on all Money Market / Savings accounts. Effective Friday, April 24th, The Federal Reserve Board announced a change to this rule. This interim rule now allows “Unlimited” withdrawals on Money Market and Savings accounts. Until further notice, you are no longer limited to six (6) withdrawals per month.