The FRB Proposes Rulemaking in FR for Reimbursement for Providing Financial Records The Board of Governors of the Federal Reserve System (Board) is proposing amendments to Subpart A of Regulation S, which implements the requirement under the Right to Financial Privacy Act (RFPA) that the Board establish the rates and conditions under which payment shall be made by a government authority to a financial institution for
assembling or providing financial records pursuant to RFPA. These proposed amendments update the fees to be charged and take account of recent advances in electronic document productions. Text;
PDF 8/15/08
September 29, 2008
NCUA Porposes Rulemaking for Prompt Corrective Action; Amended Definition of Post-Merger Net Worth
NCUA requests public comment on a proposed rule implementing a statutory amendment to the definition of a natural person credit union's "`net worth" that applies solely to NCUA's system of regulatory capital standards, known as "prompt corrective action." The amendment expands the definition of "net worth" to allow the acquiring credit union, in a merger of natural person credit unions, to include the merging credit union's retained earnings with its own to determine the acquirer's post-merger "net worth." Text;
PDF 7/29/08
August 29, 2008
FRB Proposes Rulemaking for Home Mortgage Disclosure
The Board is proposing to amend Regulation C (Home Mortgage Disclosure) to revise the rules for reporting price information on higher-priced loans. The rules would be conformed to the definition of "higher-priced mortgage loan" adopted by the Board under Regulation Z
(Truth in Lending) contemporaneously with this proposal. Under the proposal, a lender would report the spread between the loan's APR and a survey-based estimate of rates currently offered on prime mortgage loans of a comparable type if the spread meets or exceeds 1.5 percentage points for a first-lien loan (or 3.5 percentage points for a subordinate-lien loan). Text;
PDF 7/29/08
October 27, 2008
Joint Agencies Propose Rulemaking for Risk-Based Capital and Capital Adequacy Guidelines
The Office of the Comptroller of the Currency (OCC), Board of Governors of the Federal Reserve System (Board), Federal Deposit Insurance Corporation (FDIC), and Office of Thrift Supervision (OTS) (collectively, the agencies) propose a new risk-based capital framework (standardized framework) based on the standardized approach for credit risk and the basic indicator approach for operational risk described in the capital adequacy framework titled "International Convergence of Capital Measurement and Capital Standards: A Revised Framework" (New Accord) released by the Basel Committee on Banking Supervision. Text;
PDF 7/29/08
September 26, 2008
FDIC Proposes Rulemaking for Recordkeeping Requirements for Qualified Financial Contracts
The FDIC proposes recordkeeping requirements for qualified financial contracts (QFCs) held by insured depository institutions in a troubled condition as defined in this proposed rule. The appendix to the proposed rule would require an institution in a troubled condition, upon written notification by the FDIC, to produce immediately at the close of processing of the institution's business day, for a period provided in the notification, electronic files for certain position level and counterparty level data; electronic or written lists of QFC counterparty and portfolio location identifiers, certain affiliates of the institution and the institution's counterparties to QFC transactions, contact information and organizational charts for key personnel involved in QFC activities, and contact information for vendors for such activities; and copies of key agreements and related documents for each QFC. Text;
PDF 7/28/08
August 18, 2008
NCUA Proposes Rulemaking for Member Business Loans
NCUA is considering amending its member business loans (MBL) rule to clarify or revise current provisions including those related to: loan-to-value (LTV) ratio requirements;
collateral and security requirements; credit union service organization (CUSO) involvement in the MBL process; MBL loan participation; and waivers. Text;
PDF 6/25/08
August 18, 2008
NCUA Proposes Rulemaking for Organization of Federal Credit Unions
NCUA seeks public comment on four proposals to modify its Chartering and Field of Membership Manual to update and clarify the process of approving credit union service to "underserved areas." The first proposal clarifies the procedure for establishing that an "underserved area" qualifies as a local community. The second addresses the application of the economic distress criteria that determine whether an area combining multiple geographic units is sufficiently "distressed" to qualify as "underserved." The third would update the documentation and clarify the scope requirements for
demonstrating that a proposed area has "significant unmet needs" for loans and applicable financial services. The final proposal recognizes that meaningful data from NCUA and the federal banking agencies will be available to assess whether an area is "underserved by other depository institutions." Text;
6/17/08
August 18, 2008
Fair Credit Reporting
The Board and the Commission are publishing for comment proposed rules to implement the risk-based pricing provisions in section 311 of the Fair and Accurate Credit Transactions Act of 2003 (FACT Act), which amends the Fair Credit Reporting Act (FCRA). The proposed
rules generally require a creditor to provide a risk-based pricing notice to a consumer when the creditor uses a consumer report to grant or extend credit to the consumer on material terms that are materially less favorable than the most favorable terms available to a substantial proportion of consumers from or through that creditor. TXT;
PDF 5/19/08
August 4, 2008
Unfair or Deceptive Acts or Practices
The Board, OTS, and NCUA (collectively, the Agencies) are proposing to exercise their authority under section 5(a) of the Federal Trade Commission Act to prohibit unfair or
deceptive acts or practices. The proposed rule would prohibit institutions from engaging in certain acts or practices in connection with consumer credit cards accounts and
overdraft services for deposit accounts. This proposal evolved from the Board's June 2007 Notice of Proposed Rule under the Truth in Lending Act and OTS’s August 2007 Advance Notice of Proposed Rulemaking under the Federal Trade Commission Act. TXT;
PDF 5/19/08
NCUA and OTS Publish Correction to Proposed Rule for Unfair or Deception Acts or Practices in FR
This document corrects the preamble to a proposed rule published in the Federal Register on May 19, 2008, regarding Unfair or Deceptive Acts or Practices. This correction revises
cross-references in OTS’s and the NCUA’s Paperwork Reduction Act (PRA) analysis. Text;
PDF 5/29/08
FRB Publishes Proposed Rulemaking Correction
This document contains corrections to proposed rules published in the Federal Register on May 19, 2008 (73 FR 28966) implementing the risk-based pricing provisions in section 311 of the Fair and Accurate Credit Transactions Act of 2003 (FACT Act).Text;
PDF Published: 5/29/08
July 23, 2008
FDIC Publishes Interim Final Rule in FR for Financial Education Programs
The Federal Deposit Insurance Corporation (FDIC) is amending its regulations to permit state nonmember banks to participate or assist in financial education programs conducted on school premises where, in connection with the program, deposits are received, checks are paid, or money is lent, without the need to submit a branch application to, and receive prior approval from, the FDIC and satisfy certain conditions. Text;
PDF 6/23/08
July 18, 2008
NCUA Publishes Proposed Rulemaking for Incidental Powers
NCUA proposes to amend its regulation governing a federal credit union's (FCU's) incidental powers by adding illustrations of permissible activities under the categories of correspondent services, operational programs, and finder activities. These amendments will provide useful information to FCUs by clarifying and updating the illustrations regarding permissible activities. Text;
PDF 5/29/08
July 18, 2008
Truth in Lending
On June 14, 2007, the Board published proposed amendments to Regulation Z, which implements the Truth in Lending Act (TILA), and to the staff commentary to the regulation, following a comprehensive review of TILA's rules for open-end (revolving) credit that is not home-secured. The proposed revisions addressed disclosures provided with credit card applications and solicitations, at account-opening, on periodic statements, when terms are changed on an account, and in advertisements. The Board is seeking comment on a limited number of additional revisions to the regulation and commentary. TXT;
PDF 5/19/08
July 18, 2008
Truth in Savings
The Federal Reserve Board (Board) proposes to amend Regulation DD, which implements the Truth in Savings Act, and the staff commentary to the regulation, to provide additional disclosures about account terms and costs associated with overdrafts. The proposed amendments would set forth content and timing requirements for a notice to consumers about any right to opt out of an institution's overdraft service. TXT;
PDF 5/19/08
June 30, 2008
NCUA Proposes Rulemaking for Credit Union Service Organizations
NCUA proposes to change its credit union service organization (CUSO) rule by adding two new categories of permissible CUSO activities: Credit card loan origination and payroll processing services. The proposal would also add new examples of permissible CUSO activities within existing categories and would expand the scope of two categories of services to include persons eligible for credit union membership. TextPDF 5/01/08
June 27, 2008
NCUA Proposes Rulemaking Relative to the Low-Income Definition
The NCUA is proposing to use median family income (MFI) to determine if a credit union qualifies for a low-income designation and assistance from the Community Development Revolving Loan Fund (CDRLF). The proposed rule will eliminate the confusion associated with adjusting median household income (MHI) in metropolitan areas with higher costs of living. TextPDF 4/28/08
June 27, 2008
NCUA Proposes Rulemaking to Revise the Official Advertising Statemnt
The NCUA Board proposes revising the requirements for use of the official insurance sign and official advertising statement to permit insured credit unions to use the basic form of the official advertising statement, a shortened form, or the official sign in advertisements. The proposed rule will give credit unions added flexibility in advertisements. TextPDF 4/28/08
June 24, 2008
NCUA Proposes Rulemaking for Revisions for the Freedom of Information Act and Privacy Act Regulations
The changes to FOIA provisions largely relate to recent amendments to the Freedom of
Information Act addressing several procedural issues concerning fee practices, time limits for complying with requests, and new reporting requirements. The changes reflect the agency's efforts to clarify the procedures whereby individuals may obtain notification of whether an NCUA system of records contains information about the
individual and access or amend a record. TextPDF 4/25/08
June 23, 2008
CTR NPRM Issued
FinCEN has issued a Notice of Proposed Rulemaking (NPRM) to significantly simplify the requirements to exempt eligible customers from currency transaction reporting. Three existing requirements would be eliminated. Comments are due by June 23, 2008. TextPDF 4/24/08
June 12, 2008
HUD Extends Comment Period for Proposed Rulemaking for RESPA
This notice extends the public comment period for an additional 30-day period for HUD's proposed rule entitled "Real Estate Settlement Procedures Act (RESPA); Proposed Rule
to Improve the Process of Obtaining Mortgages and Reduce Consumer Settlement Costs," published on March 14, 2008. The public comment period for this proposed rule is scheduled to close on May 13, 2008. HUD is extending the public comment period to June 12, 2008.TXT;
PDF 5/12/08
June 7, 2008
Proposed Rule for Privacy Act Regulation
The Board of Governors of the Federal Reserve System (Board) proposes to amend its regulation implementing the Privacy Act of 1974 (Privacy Act). The primary changes concern: the waiver of copying fees charged to current and former Board employees, and applicants for Board employment, for access to their records under the Privacy Act. Text;
PDF 5/07/08
May 23, 2008
FDIC Assessment Dividend Proposed Rule
The FDIC has issued a FIL regarding a Notice of Proposed Rulemaking (NPR), which seeks comments on regulations to implement dividend requirements to replace the existing regulations on dividends that will expire on December 31, 2008. Comments are due by May 23, 2008.
FIL;
NPR 3/27/08
May 20, 2008
The OCC, FRB, FDIC, OTS, FCA, and NCUA have issued proposed revisions to the Interagency Questions and Answers Regarding Flood Insurance. Included in the proposal are the introduction of new questions and
answers in a number of areas, including second lien mortgages, the imposition of civil money penalties, and loan syndications/participations. There are substantive modifications to questions and answers previously adopted in the 1997 Q&A pertaining to construction loans and condominiums. They also propose to revise and reorganize the existing Q&A to clarify areas of potential misunderstanding and to provide
clearer guidance to users.
TXT;
PDF 3/20/08
May 13, 2008
HUD Publishes Proposed Rulemaking in FR for Real Estate Settlement Procedures Act (RESPA)
This proposed rule presents HUD’s proposal to simplify and improve the disclosure requirements for mortgage settlement costs under the Real Estate Settlement Procedures Act of 1974 (RESPA), to protect consumers from unnecessarily high settlement costs. A few of HUD's objectives in proposing these revisions are to: Improve and standardize the Good Faith Estimate (GFE) form, to make it easier to use for shopping among settlement service providers; ensure that page one of the GFE provides a clear summary of the loan terms and total settlement charges so that borrowers will be able to use the GFE to comparison shop among loan originators for a mortgage loan. TXT; PDF 3/14/08
April 30, 2008
NCUA Proposes Rulemaking for Mergers, Conversion from Credit Union Charter, and Account Insurance Termination
The NCUA Board recently issued an ANPR regarding mergers, conversions from credit union charter, and account insurance termination that provided a 60-day comment period, 73
FR 5461 (Jan. 30, 2008). NCUA received several oral requests to extend the comment period and has decided to extend the comment period for an additional 30 days. TXT; PDF 2/28/08
April 21, 2008
OCC Publishes Interim Final Rule in FR for Lending Limits
The interim final rule will enable the OCC to establish a special lending limit for loans and extensions of credit that the OCC determines are essential to address an emergency situation (such as critical financial markets stability), will be of short duration, will be reduced in amount in a timeframe and manner acceptable to the OCC, and do not present unacceptable risk to the lending national bank.TXT; PDF 3/20/08
April 14, 2008
FDIC Proposes Rulemaking for Processsing of Deposit Accounts
The FDIC is seeking comment on a proposed rule composed of two parts. The first part would establish the FDIC's practice for determining deposit account balances at a failed insured depository institution. The second part would require the largest insured depository institutions to adopt mechanisms that would, in the event of the institution's failure: provide the FDIC with standard deposit account and customer information; and allow the FDIC to place and release holds on liability accounts, including deposits. TXT; PDF 1/11/08
April 8, 2008
FRB Proposed Rulemaking for Truth in Lending (Reg Z)
The Board proposes to amend Regulation Z, which implements the Truth in Lending Act and Home
Ownership and Equity Protection Act. The goals of the amendments are to protect consumers in the mortgage market from unfair, abusive, or deceptive lending and servicing practices while preserving responsible lending and sustainable homeownership; ensure that advertisements for mortgage loans provide accurate and balanced information and do not contain misleading or deceptive representations; and provide consumers transactionspecific disclosures early enough to use while shopping for a mortgage.TXT; PDF 1/09/08
March 31, 2008
NCUA Proposes Rulemakeing for Mergers, Conversion From Credit Union Charter, and Account Insurance Termination
NCUA is considering whether to issue regulations to govern merger of a federally insured credit union (FICU)into or a FICU's conversion to a financial institution other than a mutual savings bank (MSB). It is also considering amending its regulations regarding mergers, charter conversions, and changes in account insurance to address various issues these transactions present that affect member rights and ownership interests. TXT; PDF 1/30/08
March 28, 2008
FRB Proposes Rulemaking for Reserve Requirements of Depository Institutions; Issue and Cancellation of Federal Reserve Bank Capital Stock
The Board is publishing for comment proposed amendments to Regulation D (Reserve Requirements of Depository Institutions) and Regulation I (Issue and Cancellation of Federal Reserve Bank Capital Stock). The first of the proposed substantive amendments would amend Regulation D to implement Section 603 of the Financial Services Regulatory Relief Act of 2006 by authorizing member banks of the Federal Reserve System to enter into
pass-through arrangements. The second of the proposed substantive amendments would eliminate the provision in the "savings deposit" definition of Regulation D limiting
certain kinds of transfers from savings deposits to not more than three per month.TXT; PDF 1/19/08
March 20, 2008
OCC Publishes Interim Final Rule for Assessment of Fees
The Office of the Comptroller of the Currency (OCC) is amending its assessment regulation to add two new asset-size categories to the table in 12 CFR 8.2(a) used to calculate each
national bank’s semiannual assessment. The addition of these categories is warranted to take account of significant structural changes in the national banking system since 1992, when the table was last revised, and will enable the OCC to realign our assessments to
better reflect industry structure and OCC’s corresponding expenses of operations. TXT; PDF Effective: 2/19/08
March 3, 2008
FDIC Proposes Rulemaking for Minority and Women Outreach Program Contracting
This proposal would amend existing FDIC regulations regarding the FDIC's contracting activities under its Minority and Women Outreach Program (MWOP).TXT; PDF
February 11, 2008
Interagency Notice of Proposed Rulemaking to Implement the Fair and Accurate Credit Transactions Act
The OCC, Board, FDIC, OTS, NCUA, and FTC (Agencies) are publishing for comment proposed
regulations and guidelines to implement the accuracy and integrity provisions in section 312 of the Fair and Accurate Credit Transactions Act of 2003 (FACT Act). The proposed regulations and guidelines would implement the requirement that the Agencies issue guidelines for use by furnishers regarding the accuracy and integrity of the information about consumers that they furnish to consumer reporting agencies and prescribe regulations requiring furnishers to establish reasonable policies and procedures for implementing the guidelines.TXT; PDF
January 31, 2008
FDIC Proposed Rulemaking for Annual Independent Audits and Reporting Requirements
Section 36 of the Federal Deposit Insurance Act (FDI Act) and the FDIC's implementing regulations (part
363) set forth annual independent audit and reporting requirements for insured depository institutions with $500 million or more in total assets. TXT; PDF
January 14, 2008
OTS Proposes Rulemaking for Conversion to Call Reports
The OTS proposes rulemaking that would consider requiring savings associations to file quarterly Consolidated Reports of Condition and Income (Call Report) instead of the
Thrift Financial Report (TFR) currently filed. A CEO Letter has been issued by regarding the replacement of the Thrift Financial Report (TFR) with the Consolidated Reports of Condition and Income (Call Report), the type filed by other financial institutions. TXT; PDF
December 12, 2007
FRB and Treasury Propose Rulemaking for Prohibition on funding of unlawful Internet gambling (Regulation GG)
These agencies jointly propose rules to implement applicable provisions of the Unlawful Internet Gambling Enforcement Act of 2006 (the "Act"). The proposed rule requires participants in designated
payment systems to establish policies and procedures reasonably designed to identify and block or otherwise prevent or prohibit transactions in connection with unlawful Internet gambling. TXT; PDF
November 19, 2007
FDIC Publishes Advanced Notice of Proposed Rulemaking for Assessment Dividends
The FDIC is seeking comments on alternative methods for allocating dividends as part of a permanent final rule to implement the dividend requirements of the Federal Deposit Insurance Reform Act of 2005 (Reform Act) and the Federal Deposit Insurance Reform Conforming Amendments Act of 2005 (Amendments Act). The existing FDIC regulations on assessment dividends expire December 31, 2008. TXT; PDF
November 5, 2007
NCUA Proposes Rulemaking for Permissible Foreign Currency Investments for Federal and Corporate Credit Unions
NCUA is considering whether to amend its investment rules to permit natural person federal credit unions
(FCUs) and corporate credit unions (corporates) to make certain investments denominated in foreign currency.TXT; PDF
October 30, 2007
NCUA Proposes Rulemaking for Permissible Foreign Currency Investments for Federal and Corporate Credit Unions
NCUA is considering whether to amend its investment rules to permit natural person federal credit unions
(FCUs) and corporate credit unions (corporates) to make certain investments denominated in foreign currency.TXT; PDF
October 12, 2007
FRB Publishes Proposed Rulemaking for Reg Z
The Board proposes to amend Regulation Z, which implements the Truth in Lending Act (TILA), and the staff commentary to the regulation, following a comprehensive review of TILA’s rules for open-end (revolving) credit that is not home-secured. The proposed revisions take into consideration comments from the public on an initial advance notice of proposed rulemaking (ANPR) published in December 2004.TXT; PDF
September 4, 2007
OCC Proposes Rulemaking for Regulatory Rule Amendments
The Office of the Comptroller of the Currency (OCC) is proposing to revise its rules in order to reduce
unnecessary regulatory burden, to update certain rules, and to make certain technical, clarifying, and
conforming changes to its regulations. TXT; PDF
August 27, 2007
OTS Proposes Rulemaking for Optional Charter Provisions in Mutual Holding Company Structures
The Office of Thrift Supervision (OTS) is proposing to amend its mutual holding company (MHC) regulations to permit certain MHC subsidiaries to adopt an optional charter provision that would prohibit any person from acquiring, or offering to acquire, beneficial ownership of more than ten percent of the MHC subsidiary’s minority stock (stock held by persons other than the subsidiary’s MHC). TXT; PDF
FDIC Proposes Rulemaking to Extend the Time Period for Quarterly Reporting of Bank Officers' and
Certain Employees' Personal Securities Transactions
The FDIC proposes to amend its rule concerning the period of time that officers and all employees of state
nonmember banks who make or participate in investment decisions for the accounts of customers have to report their personal securities transactions after the end of the calendar quarter. TXT; PDF
NCUA Publishes Proposed Rule for the Purchase, Sale, and Pledge of Eligible Obligations
NCUA proposes to amend its rule governing the purchase, sale, and pledge of eligible obligations, as a result of recommendations from its annual regulatory review process, by adding a conflict of interest provision substantially similar to the conflict of interest provision in NCUA's general lending rule. TXT; PDF
August 20, 2007
NCUA Extends Comment Period for Proposed Rulemaking on Bylaws
The NCUA Board recently issued a proposed rule to reincorporate the Federal Credit Union (FCU) Bylaws
into NCUA regulations that provided a 60-day comment period. 72 FR 30984
(June 5, 2007). NCUA received a request to extend the comment period and the NCUA Board has decided to extend it for an additional two
weeks.TXT; PDF
August 6, 2007
NCUA Proposes Rulemaking for Chartering and Field of Membership for Federal Credit Unions
The NCUA Board is proposing amendments to its chartering and field of membership manual to update community chartering policies in response to NCUA’s experience with reviewing applications of credit unions seeking community charters. TXT; PDF
NCUA Proposes Rulemaking for Federal Credit Union Bylaws
NCUA is proposing to reincorporate the Federal Credit Union (FCU) Bylaws into NCUA regulations.
This change clarifies NCUA’s ability to use a range of enforcement authorities, in appropriate cases, to enforce the FCU Bylaws. TXT; PDF
July 31, 2007
OTS Publishes Interim Final Rule in FR for Personal Transactions in Securities
In this interim final rule, OTS is amending 12 CFR 551.150(a) to provide that certain officers and employees of savings associations file reports of personal securities transactions with the savings association no later than 30 calendar days after the end of each calendar quarter.TXT; PDF
July 9, 2007
OTS Publishes Interim Final Rule in Federal Register for Prohibed Service at Savings and Loan Holding Companies
OTS is adopting an interim final rule implementing section 710(a) of the Financial Services Regulatory
Relief Act of 2006, which added a new section 19(e) to the Federal Deposit Insurance Act (FDIA) prohibiting any person who has been convicted of any criminal offense involving dishonesty, breach of trust, money laundering or has agreed to enter into a pretrial diversion or similar program in connection with a
prosecution for such an offense from holding certain positions with respect to a savings and loan holding company (SLHC).TXT; PDF
OCC Publishes Interim Rule in FR for Special Lending Limits
The Office of the Comptroller of the Currency (OCC) is amending Part 32 to permanently incorporate special
lending limits for 1–4 family residential real estate loans, small business loans, and small farm loans or extensions of credit. TXT; PDF
June 29, 2007
FRB Proposes Rulemaking for the Following Regulations:
Consumer Leasing (Reg M)
The Board is proposing to amend Regulation M, which implements the Consumer Leasing Act, to withdraw portions of the interim final rules for the electronic delivery of disclosures issued March 30, 2001.
The interim final rules address the timing and delivery of electronic disclosures, consistent with the requirements of the Electronic Signatures in Global and National Commerce Act (E-Sign Act). TXT; PDF
Electronic fund transfers (Reg E)
The Board is proposing to amend Regulation E, which implements the Electronic Fund Transfer Act, to
withdraw the interim final rules for the electronic delivery of disclosures issued March 30, 2001. The interim final rules address the timing and delivery of electronic disclosures, consistent with
the requirements of the Electronic Signatures in Global and National Commerce Act. TXT; PDF
Equal Credit Opportunity (Reg B)
The Board is proposing to amend Regulation B, which implements the Equal Credit Opportunity Act, to
withdraw portions of the interim final rules for the electronic delivery of disclosures issued March 30, 2001. The interim final rules address the timing and delivery of electronic disclosures, consistent with the requirements of the Electronic Signatures in Global and National Commerce Act (E-Sign Act). TXT; PDF
Truth in Lending (Reg Z)
The Board is proposing to amend Regulation Z, which implements the Truth in Lending Act, to withdraw
portions of the interim final rules for the electronic delivery of disclosures issued March 30, 2001. The interim final rules address the timing and delivery of electronic disclosures, consistent with
the requirements of the Electronic Signatures in Global and National Commerce Act (E-Sign Act). TXT; PDF
Truth in Savings (Reg DD)
The Board is proposing to amend Regulation DD, which implements the Truth in Savings Act, to withdraw portions of the interim final rules for the electronic delivery of disclosures issued March 30, 2001. The interim final rules address the timing and delivery of electronic disclosures, consistent with the requirements of the Electronic Signatures in Global and National Commerce Act (E-Sign Act). TXT; PDF
May 29, 2007
Joint Agencies Propose Rulemaking for Model Privacy Form Under the Gramm-Leach-
Bliley Act
The OCC, Board, FDIC, OTS, NCUA, FTC, and SEC (the Agencies) are proposing amendments to
their rules that implement the privacy provisions of the Gramm-Leach-Bliley Act (GLB Act), Title V, Subtitle A. These rules require financial institutions to provide initial and annual privacy notices to their customers.TXT; PDF
May 11, 2007
NCUA Announces Proposed Rulemaking for Catastrophic Preparedness
NCUA proposes to amend its regulations to address a federally insured credit union’s obligation to
maintain a records preservation program. The proposed rule draws from existing guidance to clarify
requirements for preserving vital records and to suggest important items for consideration in restoring vital member services.TXT; PDF
May 10, 2007
Joint Agencies Publish Rule for Expanded Examination Cycle for Certain Small Insured Depository Institutions and U.S. Branches and Agencies of Foreign Banks
The OCC, Board, FDIC, and OTS (collectively, the Agencies) are jointly issuing and requesting public
comment on interim rules to implement the Financial Services Regulatory Relief Act of 2006 (FSRRA) and related legislation (collectively the Examination Amendments). The Examination Amendments permit insured depository institutions (institutions) that have up to $500 million in total assets, and that meet certain other criteria, to qualify for an 18-month (rather than 12-month) on-site examination cycle. TXT; PDF
May 7, 2007
FDIC publishes notice of proposed rulemaking for Industrial Bank Subsidiaries of Financial Companies The FDIC is proposed rules that would impose certain conditions and requirements on each deposit insurance application approval and non-objection to a change in control notice that would
result in an insured industrial loan company or industrial bank becoming a subsidiary of a company that is engaged solely in financial activities and that is not subject to consolidated bank supervision by the Federal Reserve Board or the Office of Thrift Supervision.TXT, PDF
April 26, 2007
OTS Gives Notice of Proposed Rulemaking for Permissible Activities of Savings and Loan Holding Companies
The Office of Thrift Supervision (OTS) is proposing to revise its regulations to expand the permissible activities of savings and loan holding companies (SLHCs) to the full extent permitted under the Home Owners’ Loan Act (HOLA). It also proposes to amend the regulation to the statute that it is intended to implement by replacing the absolute prohibition on certain SLHC transactions that is currently in the regulation with a prior approval requirement.TXT; PDF
March 15, 2007
FRB Proposed Rulemaking for Bank Secrecy Act Funds Transfer and Transmittal
FRB publishes proposed rule in FR for proposed rulemaking relative to the threshold for the requirement to collect, retain, and transmit information on funds transfers and transmittals of funds. TXT, PDF .
March 13, 2007
FDIC proposes rulemaking for Large Bank Deposit Insurance Determination Moderization
The FDIC is seeking comment on whether and how the largest insured depository institutions should be
required to modify their deposit account systems to speed depositor access to funds in the event of a failure. In December 2005 the FDIC issued a prior advance notice of proposed rulemaking on this subject (2005 ANPR).1 This ANPR is a follow-up to that issuance. TXT, PDF .
January 30, 2007
FRB Seeks Comment for proposed Rulemaking for Electronic fund transfers (Regulation E):
The Board is proposing to amend Regulation E, which implements the Electronic Fund Transfer Act, and
the official staff commentary to the regulation, which interprets the requirements of Regulation E. The
proposed amendments would create an exception for certain small-dollar transactions from the requirement that terminal receipts be made available to consumers at the time of the transaction. TXT, PDF .
January 23, 2007
Proposed Rulemaking for Risk-Based Capital Standards: Advanced Capital Adequacy Framework
The joint agencies (OCC, FRB, FDIC, OTS) are proposing a new risk-based capital adequacy framework. The proposed rule describes the qualifying criteria for banks required or seeking to operate under the proposed framework and the applicable risk-based capital requirements for banks that operate under the framework. TXT, PDF .
January 23, 2007
Announcement of Proposed Rulemaking for Risk-Based Capital Standards: Market Risk
The joint agencies (OCC, FRB, FDIC, OTS) are proposing revisions to the market risk capital rule to enhance its risk sensitivity and introduce requirements for public disclosure of certain qualitative and quantitative information about the market risk of a bank or bank holding company.TXT, PDF .
January 23, 2007
OTS Publishes Proposed Rulemaking in FR to revise its rule implementing the CRA In this notice, the OTS is proposing changes to its Community Reinvestment Act (CRA) regulations in four areas to reestablish uniformity between its regulations and those of the other Federal banking agencies. TXT, PDF .
January 22, 2007 NCUA publishes Rule for Share Insurance Appeals; Clarification
of Enforcement Authority of the NCUA Board
NCUA publishes Interim Final Rule in FR to amend its rules to implement amendments to the
Federal Credit Union Act (FCU Act) made by the Financial Services Regulatory Relief Act of 2006 (Reg Relief Act). TXT, PDF .
January 12, 2007
Joint Agencies publish Interim Rule in FR for Depository Institution Management Interlocks Act The OTC, FRB, FDIC and OCC are amending their rules regarding management interlocks to implement section 610 of the Financial Services Regulatory Relief Act of 2006 (FSRRA) and to correct
inaccurate cross-references.TXT; PDF
January 10, 2007
FRB publishes Interim Rule for Loans to Executive Officers, Directors, and Principal Shareholders of Member Banks The FRB published an interim rule in the Federal Register for Reg O, adopting, on an interim basis, and soliciting comment on amendments to the Board’s Regulation O to eliminate certain
reporting requirements. TXT, PDF .
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