Ryan Donovan, CUNA's SVP of legislative affairs, said he is confident the Government Accountability Office will conduct a Regulation D study even if legislation does not pass out of the Democratic-led Senate.
The Republican-controlled House approved the Regulation D Study Act 422-0 Dec. 2, which would require the GAO to make recommendations to Congress on how to update the law to better reflect modern technology and account usage.
Reg D is an early 1980s-era policy that limits consumers to six remote transfers between their checking and savings accounts per month.
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