H.R. 2251 · 112th Congress
To direct the Board of Governors of the Federal Reserve System to amend Regulation D to increase the transaction limits on passbook savings, statement savings, and money market deposit accounts.
- Stage
- In committee
- Sponsor
- Randy Neugebauer
- Introduced
- 2011-06-21
- Latest action
- 2011-07-19 · Referred to the Subcommittee on Financial Institutions and Consumer Credit.
Summary
Directs the Board of Governors of the Federal Reserve System to amend "Regulation D" (Reserve Requirements of Depository Institutions) to revise the definition of "savings deposit" with respect to a passbook savings account, statement savings account, or a money market deposit account.
Requires the Board to increase from 6 to 30 the number of transfers and withdrawals a depositor may make per calendar month (or statement cycle or similar period of at least four weeks) to another account of the depositor at the same institution or to a third party by specified means.