Latest Compliance - Passbook Savings Topics

Does Reg D apply to all savings accounts?

06/23/2003

Under Regulation D does the excess transaction limit (6/3) apply only to money market accounts or to all statement and passbook savings accounts? I work for a savings and loan bank. We have always applied the limits to money market accounts but I read a couple of articles that made me think it should apply to all deposit accounts.

DDA Periodic Statement Requirement

02/03/2003

I have received several requests from customers to have their periodic statements discontinued, stating, they prefer to view the account online. We do not offer electronic statements for our customers at this time. Can you clarify on demand deposit accounts if a periodic statement is required? I have read under Reg E that a statement is required if an EFT occurs, yet; if an EFT does not occur, is the bank required to send a periodic statement?

Periodic Statement Exception, Transfers, and ATM Transactions

06/03/2002

Does the periodic statement exception <a href="http://www.bankersonline.com/regs/205/2059.html">205.9(c)(1)(i)</a> for passbook accounts apply to telephone banking transfers or to ATM activity on a passbook savings account? We are adding ATM access and Telephone banking and were wondering if the passbooks were exempt from the periodic statement requirement. If not, it would probably be easier for us to only offer these services with a statement savings account.

Focus on NDIP

12/01/1997