The Federal Reserve has suspended rules that previously limited the number of transfers and withdrawals from savings accounts to six per month, according to American Banker. With the Regulation D rules temporarily suspended, banks and credit unions can now allow their customers to make an unlimited number of transfers and withdrawals from their savings deposits. The purpose of Regulation D is to help ensure that banks have a large enough capital cushion to weather a crisis, but the central bank right now believes it's more important that people be able to access their cash as easily as possible.

This is but one of many actions taken by the Federal Reserve recently to shore up the economy as the world grapples with the COVID-19 pandemic, which includes widespread debt purchases as supply of credit dries up amid rising demand.