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Complying with the Reg D Change - Follow Up

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Question: 
Regarding the <a href="http://www.bankersonline.com/compliance/guru2009/gurus_comp081709c.html">Complying with the Reg D Change</a> article posted 8/17/09, does this "change to Reg D" apply to OTS Reg 561.28(a)(2)?
Answer: 

No. The OTS regulation has not changed as of this writing, and until it does change, the restriction on third-party transfers by check and similar orders remains in effect with respect to savings associations. The Fed recently amended its rule in this area, and it would seem reasonable to assume that the OTS will follow -- eventually.

First published on BankersOnline.com 1/04/10

First published on 01/04/2010

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