What happened during COVID???

Here are a few of the changes effective during COVID (2020)

April 2020 Regulation D changes eliminating the six (6) transaction requirement for savings and money market accounts. The reserve requirements were eliminated, thus the Reg. D requirements are no longer in effect.

July 2020 HMDA reporting requirements changed from 25 closed end loans to 100. This means for small banks, they may no longer be required to report.

July 2020 Remittance transfers exemption increased from 100 to 500.

These rules are some that may have been easily overlooked. Check here for upcoming changes related to LIBOR in coming days.

One thought on “What happened during COVID???”

  1. Note: The rule on reserve requirements became final and the effective date for the final rule is July 29, 2021.

Comments are closed.