We just had a teller meeting and went over Reg D and Reg DD and I'm confused. Can someone give me in "simple" terms what Reg D and Reg DD are?

Reg D sets forth requirements for how banks must manage its reserve requirements with Fed. Of particular interest in the Reg are the definitions of the various types of accounts (DDA vs savings vs time). The details of these account definitions help us understand account transaction limitations (such as MMDA limits) and what types of customers can maintain NOW accounts.

Reg DD is the implementing regulation of the Truth in Savings Act and sets forth requirements for disclosing account terms to our consumer customers, advertising, calculating interest/APYs, etc.

If you will look in BOL's Alphabet Soup link or "Click to Read a Reg" link you can read a brief overview of the Regs or pull them up to review the Reg sections in detail.

Also, be sure to let your trainer know that you left the session confused. I am a training specialist and I would want to know if students left my class confused.

I'm fairly new at this and getting all these Regs straight is something else. I need a Regs for Dummies book

So does Reg DD deal mostly with the verbage and charges on truth in savings disclosures?

Regulation D is about reserve requirements and classifications of accounts (including some definitions). It includes a definition of "savings account" that imposes transfer activity limits on those accounts (including MMDAs). It also includes a section that interprets the law on who can have a NOW account.

Regulation DD is about consumer protection and disclosures about consumer deposit accounts. Truth in Savings.