Federal Reserve Board Does Not Intend To Reimpose Limits on Savings Withdrawals
The Federal Reserve has no plans to reinstitute a rule that limits consumers to six transactions a month from their savings account.
Last month the Fed released an interim final rule revising so-called “Regulation D,” which imposed the limit. At the time, Fed officials indicated the rule was being loosened because of the coronavirus crisis. Consumers likely have a more urgent need for access to their funds by remote means, the Fed said.