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FORGET YOUR PASSWORD? Editor: Lucy H. Griffin Board of Advisors: John S. Byrne, Esq. Robert P. Chamness Cliff E. Cook Phillips G. Gay, Jr. Barbara Hurst Richard Insley Michael D. Maher Robert G. Rowe, III Andy Zavoina |  |
Volume 9, Number 6 This issue went to press on June 25, 2004. Table of Contents Overdraft Protection: New Practices, New Rules Concerned that consumers may not have adequate information about the overdraft protection and that some marketing information is actually deceptive, the FFIEC agencies proposed joint guidelines on overdraft protection programs and the Federal Reserve proposed amendments to Regulation DD. New Rules: Reg V Reporting Notices (4 Action Steps) The Federal Reserve Board has issued final rules for providing consumers with a notice required by The FACT Act when the creditor reports negative information to a credit bureau. Action Training: Lining Up FACT Act Players (Chart) The FACT Act will hit everywhere in the institution. No-one will be unaffected. Compliance Notes
Compliance Q&A FTC Pursues Deceptive Mortgage Advertising? FTC has charged a California mortgage broker with unfair or deceptive trade practices and violations of Regulation Z. OCC Reminds Banks of SCRA In Advisory Letter 2004-8, the OCC provides banks with a summary of requirements under the SCRA (Servicemembers Civil Relief Act). 
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