What has changed about Regulation D (six transfer limit)?

On April 24, 2020, the Fed announced a change to Regulation D that permits banks and credit unions to allow their customers to make more than six convenient transfers and withdrawals per month from their savings and money market accounts.

The deletion of the six-per-month limit was made possible by the Fed’s determination that reserves are sufficient to no longer warrant restrictions on the number of monthly transfers and withdrawals. It also is part of the Fed’s strategy to assist consumers who may be struggling financially as a result of the coronavirus pandemic.