We received some great feedback on Part 1 of Linked Accounts and Regulation D - including some great questions. Let's delve into this area a bit more - including a preliminary question. Treating Savings Accounts as Transaction Accounts. A couple of commenters asked if their credit unions could treat their savings accounts as transaction accounts - and reserve accordingly. Yes, credit unions do have the ability to treat their savings accounts as transactions accounts and allow unlimited transactions from those accounts. ****Read More; http://nafcucomplianceblog.typepad.com/nafcu_weblog/2012/03/overdrafts-linked-accounts-and-regulation-d-part-2.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+typepad%2Fnafcucomplianceblog%2Fnafcu_weblog+%28NAFCU+Compliance+Blog%29&utm_content=Google+Reader
Social Studies Social Security 101 The US Social Security system is best known for providing income to the nation’s elderly population based on the amount of money they earned during their working years. The Social Security Act of 1935 established the program amid the worsening poverty crisis that older Americans faced during the Great Depression. By 1934, more than half of those aged 65 and older lacked sufficient income to cover their basic living expenses. Today, most US workers are familiar with seeing a percentage of their pretax income deducted from their paychecks and contributed to the nation’s Social Security trust funds. Starting a...
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