LAS VEGAS — (04-25-20) — The Federal Reserve Board announced Rule Changes to Personal Bank Accounts due to the coronavirus COVID-19 crisis on Friday.
The new rule amends Regulation (D), allowing consumers to make unlimited withdrawals or transfers from savings to checking accounts instead of being capped at six per month..
Watch Fed Rule Changes on Personal Bank Accounts
Banks and credit unions are now able to immediately suspend this regulation, giving customers an unlimited number of transfers and withdrawals “at a time when financial events associated with the coronavirus pandemic have made such access more urgent,” according to the statement.
Article by: Paul Goldberg, Staff Writer
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Senior Correspondent at JRL CHARTS NETWORK
Paul Goldberg has been a senior editor at JRL CHARTS for more than 21 years, delivering in-depth coverage of LGBTQ politics, civil rights, and public policy across the United States, Europe, and Asia.
His reporting focuses on federal court rulings, legislative developments, international human rights issues, and government actions impacting LGBTQ communities worldwide.
With nearly two decades of experience, Goldberg is recognized for his balanced analysis, investigative insight, and commitment to accurate, fact-based journalism that informs readers on the political forces shaping equality and justice.
His reporting focuses on federal court rulings, legislative developments, international human rights issues, and government actions impacting LGBTQ communities worldwide.
With nearly two decades of experience, Goldberg is recognized for his balanced analysis, investigative insight, and commitment to accurate, fact-based journalism that informs readers on the political forces shaping equality and justice.
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