This training is for banking staff on the limitations that apply to withdrawals from various types of account
Bank staff need to understand the way Regulation D limits the number of withdrawals that customers can make from particular types of accounts using “convenient” methods.
This short, one-module course introduces bank staff to the requirements of Regulation D that ensure banks, credit unions and other financial institutions have enough funds available to be able to meet customers’ requests to withdraw money from their accounts. It describes the limitations on withdrawals from certain types of accounts, depending on the withdrawal method, and provides information on the types of accounts that are not subject to these withdrawal limitations. It includes real-life case studies.
The course also briefly introduces the Federal Reserve’s regulation of the amount of cash reserves that financial institutions must hold.
Who is this training for?
The course is a suitable introduction for all customer-facing banking staff.
Jasmine likes to keep her money in a savings account where it earns interest. She works from home as a baby-sitter and has regular expenses for food, milk, diapers etc. She has these delivered to her home and likes to pay her suppliers on-line because it’s more convenient. She needs to make one or two payments each week.
Will there be a problem with the frequency of transactions?
Retail Banking Compliance Training
This course is part of the Retail Banking Compliance Suite
The other courses available are
- Introduction to Fair Credit Reporting Act (FCRA)
- Fair Lending
- Introduction to the Office of Foreign Assets Control (OFAC)
- Introduction to Regulation Z and the Truth in Lending Act (TILA)
- Introduction to Regulation CC and the Expedited Funds Availability Act
- Introduction to Regulation E and the Electronic Funds Transfer Act
- Introduction to Regulation DD and the Truth in Savings Act
For more details, click on the course names above.
- Give an overview of the purpose and operation of Regulation D
- Understand which transactions are limited under Regulation D
- Describe the penalties and charges under Regulation D