WASHINGTON - The new Truth-in-Savings rule has been in effect just three weeks, and the Federal Reserve has begun tinkering with it.

The Fed's board of governors on Wednesday proposed changing the way banks calculate annual percentage yields for some certificates of deposits. While the proposed change is relatively minor, revisiting the rules in any form so soon after implementation raised eyebrows even among the governors.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.