H.R. 5460 — Introduced in House

I 116th CONGRESS 1st Session H. R. 5460 IN THE HOUSE OF REPRESENTATIVES December 17, 2019Mr. Perry introduced the following bill; which was referred to the Committee on Financial Services A BILL To direct the Board of Governors of the Federal Reserve System to revise the transfers and withdrawals limit with respect to savings deposits and transaction accounts, and for other purposes. 1. Revision of transfers and withdrawals limit Not later than 90 days after the date of the enactment of this Act, the Board of Governors of the Federal Reserve System shall modify title 12, Code of Federal Regulations— (1) to increase the transfers and withdrawals limitation under section 204.2(d)(2) thereof (defining savings deposit) from six to 30; and (2) to increase the withdrawal threshold under section 204.2(e)(4) thereof (defining transaction account) from six to 30.