Updates to Regulation D (Truth-In-Savings) By: Fran Sponsler, CRCM and Melissa Good Date: 8/27/09 Effective July 2, 2009, the Federal Reserve has updated Regulation D with regard to the number of “convenient” withdrawals and transfers that can be made from savings and money market accounts.  Currently the number allowed is six, with no more than three of those being by check, debit card or similar order.  Under the revised version of Regulation D, the number allowed will continue to be six.  However, the withdrawals and transfers may be made by any means and the number of checks, debit card, or similar orders are no longer restricted to three. Financial institutions will need to update Truth-In-Savings disclosures to reflect this rule change.  No additional customer notification is required.  Financial institutions will also need to ensure their policies and procedures are updated to reflect the current revisions for the monitoring of excessive withdrawals on savings and money market accounts.