They No Longer Want The (Regulation) D: Major Rule Change in Banking Affects a Lot of Bank Clients!

<p><strong>Woke up Friday Morning to a</strong><a href="https://www.federalreserve.gov/newsevents/pressreleases/bcreg20200424a.htm"><strong> press release from the Federal Reserve</strong></a><strong> that was Retweeted out by Notorious Banker Follower </strong><a href="https://twitter.com/KenTumin"><strong>@kentumin </strong></a><strong>which mentions the suspension, or at least the recommendation to suspend Regulation D, an 80+ year old rule that actually impacts more bank customers now than back when.</strong></p> <p><a href="https://www.depositaccounts.com/blog/2020/04/fed-amends-reg-remove-6permonth-limit-savings-accounts.html"><strong>Ken's Story</strong></a></p> <p><strong>Long story short, it eliminates the penalty of using your savings account more than 6 times a month, a penalty that happens a lot more often with the advent of mobile banking and the relative ease of moving money around with that tool. I discuss my very first bank account when I was 15 years old, which introduced me to Regulation D to the tune of $81 the first month I had the account. How that delinquency actually delayed my employment at Bank of America ever so slightly, and how I used to find creative ways to circumvent the rule with the customers I opened accounts for.</strong></p> <p><strong>Regulation D was a big reason why I dislike savings accounts, and now, it's likely gone for good, although big banks don't have to abide by the recommendation!</strong></p> <p><br></p> <p><strong>Short but very sweet news bite that impacts a lot of people</strong></p> <p><a href="https://en.wikipedia.org/wiki/Regulation_D_(FRB)">Wikipedia on Reg D.</a></p> <p><br></p> <p><a href="https://www.youtube.com/channel/UCzTfy_Nn05ZtFnBdEG8RTWg"><strong>I HAVE A NEW YOUTUBE CHANNEL WITH EXCLUSIVE VIDEOS AND QUICK HITS ON NEWS STORIES THROUGHOUT THE WEEK</strong></a><strong>. Please like, subscribe and share. Make it HUGE!</strong></p> <p><a href="https://www.youtube.com/channel/UCzTfy_Nn05ZtFnBdEG8RTWg"><strong>Check it out!!!</strong></a></p> <p><em><str