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Top Stories
Pending Proposals
Recently Finalized Rules


Comment Deadlines on Proposals
In reverse order
    June 24, 2011 July 11, 2011 November 26, 2012
  • Agencies Publish Proposal for Swap Entities
    The OCC, FRB, FDIC, Farm Credit Administration and the Federal Housing Finance Agency (“Agencies”) have published proposed rules [TXT; PDF] that would establish minimum margin and capital requirements for registered swap dealers, major swap participants, security-based swap dealers, and major security-based swap participants for which one of the Agencies is the prudential regulator. The proposed rule would implement sections 731 and 764 of the Dodd-Frank Act. Comments on the proposal are due by June 24, 2011.   5/11/11 [Note: On 6/24/11, the Agencies published a Notice in the Federal Register extending the comment period to end on July 11, 2011, and on 9/26/11, they announced the reopening of the comment period, with a new deadline of November 26, 2012.]

    November 16, 2012
  • Integrated disclosures proposal published
    The CFPB’s July 9, 2012, proposal to amend its Regulations X and Z to provide for integrated RESPA and TILA mortgage disclosures has been published [Text; PDF (15 MB)] in the Federal Register. Comments are due by 9/7/12 regarding provisions for revised APR disclosures and delay of certain other disclosure requirements required by the Dodd-Frank Act; by 11/16/12 on the integrated disclosure requirements.   8/23/12

    October 16, 2012
  • Bureau publishes compensation proposal
    The CFPB has published [Text; PDF] its previously-announced proposed rule that would (1) amend Regulation Z to implement TILA changes made by the Dodd-Frank Act to the current Regulation Z § 1026.36 restrictions on loan originator compensation, adding guidance and clarification on the application of the compensation rules; (2) add a new restriction on the imposition of any upfront discount points, origination points, or fees on consumers under certain circumstances; (3) add provisions concerning proper qualification and registration or licensing for loan originators; and (4) implement restrictions on mandatory arbitration and the financing of certain credit insurance premiums. Comments on the proposal are due by October 16, 2012.   9/7/12

    October 15, 2012
  • Agencies publish appraisal proposal
    The OCC, FRB, NCUA, CFPB, and FHFA (“Agencies”) have published [Text; PDF] their previously-announced proposed rule that would amend Regulation Z to implement new TILA §129H, added by the Dodd-Frank Act, requiring appraisals for “higher-risk mortgages,” and make corresponding changes to related agency regulations. Comments on the proposal are due by October 15, 2012.  9/5/12

    October 9, 2012
  • Bureau publishes servicing proposals
    The CFPB has published its previously-announced proposed rules that would
    • Amend Regulation X [Text; PDF] to implement Dodd-Frank Act (DFA) RESPA amendments to address loan servicing responsibilities and make other improvements to the regulation
    • Amend Regulation Z [Text; PDF] to implement DFA TILA changes addressing initial rate adjustment notices for ARMs, periodic statements, prompt crediting of mortgage payments and prompt responses to requests for payoff amounts.
    Comments on the proposals are due by October 9, 2012.   9/17/12

    September 7, 2012
  • Integrated disclosures proposal published
    The CFPB’s July 9, 2012, proposal to amend its Regulations X and Z to provide for integrated RESPA and TILA mortgage disclosures has been published [Text; PDF (15 MB)] in the Federal Register. Comments are due by 9/7/12 regarding provisions for revised APR disclosures and delay of certain other disclosure requirements required by the Dodd-Frank Act; by 11/16/12 on the integrated disclosure requirements.   8/23/12

  • High-cost mortgage and counseling proposal published
    The CFPB has published in the Federal Register its July 9, 2012, proposed rule, “High-Cost Mortgage and Homeownership Counseling Amendments: Truth in Lending and Homeownership Counseling Amendments to the Real Estate Settlement Procedures Acts,” to implement changes made to TILA and RESPA by the Dodd-Frank Act [Text; PDF]. Comments are due by September 7, 2012 (60 days after the rule was announced by the Bureau).   8/15/2012

    July 30, 2012
  • FinCEN publishes JSC CredexBank proposal
    The Financial Crimes Enforcement Network (FinCEN) has published in the Federal Register a previously announced proposed rulemaking [TXT; PDF] that would impose Special Measures against JSC CredexBank as a financial institution of primary money laundering concern. Comments are due by July 30, 2012.   5/30/12

    July 23, 2012
  • Bureau asks input on prepaid card rules
    The CFPB has published an Advance Notice of Proposed Rulemaking (ANPR) [Text; PDF] concerning general purpose reloadable (GPR) prepaid cards. Comments are due by July 23, 2012. Additional information can be found in BankersOnline’s Top Stories for May 23, 2012.

    July 9, 2012
  • Bureau reopens comments on "ability-to-repay"
    The Consumer Financial Protection Bureau (Bureau) has announced the reopening of the comment period on the Federal Reserve Board's May 11, 2011 proposed rulemaking under Dodd-Frank Act amendments to the Truth in Lending Act. The proposal would require creditors to determine a consumer's ability to repay a mortgage loan and would set minimum underwriting standards for home mortgages. The Bureau is specifically requesting comments on additional information it has obtained on the performance of securitized mortgage loans and on certain related matters. The comment period will end July 9, 2012.

    May 29, 2012
  • FDIC proposals published
    The FDIC has published two previously announced Notices of Proposed Rulemaking. The first [Text; PDF] is to implement a section of the Dodd Frank Act to permit the FDIC as receiver of a failed financial institution to enforce the financial institution's contracts, and the other [Text; PDF] is to clarify changes to the deposit insurance assessment system for insured institutions with assets over $10 billion. Comments on both proposals are due by May 29, 2012.  3/26/12

    April 30, 2012
  • Proposed FRB Reg YY Published
    The Fed has published its previously announced proposed rule [Reg YY—Text; PDF] that would implement the enhanced prudential standards and the early remediation requirements required to be established under the Dodd-Frank Act. Comments are requested by March 31, 2012.   1/5/12

    Comment period extended to Aril 30, 2011.  3/5/12.

    April 17, 2012
  • Bureau proposes larger participants definition
    The Consumer Financial Protection Bureau has published for comment [TXT; PDF] a proposed rule that would define “larger participants” in the markets for consumer debt collection and consumer reporting, under section 1024 of the Dodd-Frank Act. Comments on the proposal are due by April 17, 2012.   2/17/12

    April 9, 2012
  • Reg E remittances rules published
    The Bureau's final rule [TXT; PDF] amending its Regulation E to implement the consumer foreign remittances protections mandated in the Dodd-Frank Act have been published in the Federal Register. The rule will be effective in one year, on February 7, 2013. The Bureau also published a proposed rule [TXT; PDF] and request for comments that would provide a limited exemption from the foreign remittances protection requirements by establishing a transaction threshold for coverage, and make changes to requirements regarding remittance transfers that are scheduled in advance. The comment period on the proposed rule will end on April 9, 2012.   2/7/12.

    April 3, 2012
  • Bureau Publishes Info Request
    The Consumer Financial Protection Bureau (Bureau) has published in the Federal Register it previously-announced notice and request for information [TEXT; PDF] concerning potential streamlining of the regulations it has “inherited” from other federal agencies. The Bureau was assigned rule-writing responsibility for 14 consumer protection statutes as of July 21, 2011, and is requesting public comments on which of the related regulations should be the agency's highest priority for updating, modifying or eliminating because they are outdated, unduly burdensome or unnecessary. The initial comment period ends March 5, 2012, and will be followed by a second 30-day period (through April 3, 2012) during which comments will be taken on those received in the initial period.

    March 26, 2012
  • OCC Posts Stress Test Proposal
    The Comptroller of the Currency has published a proposed rule [TXT; PDF] that would implement § 165(i) of the Dodd-Frank Act by requiring national banks and federal savings associations with total assets of more than $10 billion to conduct an annual stress test. Comments on the proposal are due by March 26, 2012.   1/24/12

    March 23, 2012
  • Proposed Annual Stress Test Rule Published
    The FDIC published a proposed rule [TXT; PDF] for comment that would implement the requirements in Section 165(i) of the Dodd-Frank Act (the "Dodd-Frank Act") regarding stress tests. The rule would require state nonmember banks and state savings associations supervised by the FDIC with total consolidated assets of more than $10 billion to conduct annual stress tests, report the results of those tests to the FDIC and the Board of Governors of the Federal Reserve System, and publish a summary of the results of the tests. Comments are due by March 23, 2012.   1/23/12

    March 5, 2012
  • Bureau Publishes Info Request
    The Consumer Financial Protection Bureau (Bureau) has published in the Federal Register it previously-announced notice and request for information [TEXT; PDF] concerning potential streamlining of the regulations it has “inherited” from other federal agencies. The Bureau was assigned rule-writing responsibility for 14 consumer protection statutes as of July 21, 2011, and is requesting public comments on which of the related regulations should be the agency's highest priority for updating, modifying or eliminating because they are outdated, unduly burdensome or unnecessary. The initial comment period ends March 5, 2012, and will be followed by a second 30-day period during which comments will be taken on those received in the initial period.

  • Treasury Proposes Assessment Rule
    The Department of the Treasury has published a proposed rule [TXT; PDF] to implement Section 155 of the Dodd-Frank Act, which directs the Department to establish by regulation an assessment schedule for bank holding companies with total consolidated assets of $50 billion or greater and nonbank financial companies supervised by the FRB to collect assessments equal to the total expenses of Treasury's Office of Financial Research. Comments are due by March 5, 2012.

    February 21, 2012
  • Reg Z Republished (with a Tweak or Two)
    The Consumer Financial Protection Bureau (Bureau) added Regulation Z to the lengthening list of regulations it has republished in Chapter X of Title 12, CFR. Once again, the Bureau has published the regulation as an interim final rule [TXT; PDF] with an effective date of December 30, 2011. Comments on the rule will be accepted by February 21, 2012. No substantive changes were made, although two sections of the Fed's Reg Z -- 226.5a and 226.5b -- have been redesignated as §§ 1026.60 and 1026.40, respectively, to move them to more relevant sections of the regulation and provide numbering consistent with current requirements for the CFR.   12/22/11

  • CFPB Publishes its RESPA Reg X
    Continuing its issuance of a series of interim final regulations as it assumes rulemaking authority over a collection of federal consumer protection laws, the Consumer Financial Protection Bureau (Bureau) has published its new Regulation X, 12 CFR Part 1024, implementing the Real Estate Settlement Protection Act (RESPA) [TXT; PDF]. The rule will be effective December 30, 2011, and comments will be accepted through February 21, 2012.   12/20/11

  • Bureau Adds to Alphabetic Collection
    The Consumer Financial Protection Bureau (Bureau) continues its republication of regulations for which it is assuming rule-writing responsibility from other federal agencies under the provisions of the Dodd-Frank Act. In the Federal Register for today (December 21, 2011), the Bureau has republished the following interim final rules, to be effective December 30, 2011, with comments due by February 21, 2012, indicating that no substantive changes have been made in the regulations’ requirements—
    • Regulation B (12 CFR Part 1002)—Equal Credit Opportunity [TXT; PDF]
    • Regulation V (12 CFR Part 1022)—Fair Credit Reporting [TXT; PDF]
    • Regulations J, K and L (12 CFR Parts 1010, 1011 & 1012)—Interstate Land Sales Registration Program [TXT; PDF]
    • Regulation P (12 CFR Part 1016)—Privacy of Consumer Financial Information [TXT; PDF]
    • Regulation DD (12 CFR Part 1030)—Truth in Savings [TXT; PDF]
      12/21/11

    February 17, 2012
  • Bureau Issues More Transferred Regs
    The Consumer Financial Protection Bureau (Bureau) has published three more interim final rules, each effective December 30, 2011 with comments due by February 17, 2012. The rules, which will implement the transfer of rulemaking authority to the Bureau from other agencies pursuant to the Dodd-Frank Act, include four new Bureau regulations—
    • Regulation M (Consumer Leasing) [TXT; PDF]
    • Regulation C (Home Mortgage Disclosure) [TXT; PDF]
    • Regulations G & H (S.A.F.E. Mortgage Licensing Act) [TXT; PDF]
    12/19/11

    February 14, 2012
  • Bureau Posts Four New Interim Final Regs
    The Bureau of Consumer Financial Protection has added four new regulations to its own series of alphabetically-designated rules. It has published in the December 16, 2011 Federal Register these interim final rules, each of which will be effective December 30, 2011, with a comment period ending February 14, 2012
    • Regulation I (12 CFR Part 1009): Disclosure Requirements for Depositary Institutions Lacking Federal Deposit Insurance [TXT; PDF]
    • Regulation F (12 CFR Part 1006): Fair Debt Collection Practices Act [TXT; PDF]
    • Regulations N (12 CFR Part 2014): Mortgage Acts and Practices Advertising and O (12 CFR Part 2015): Mortgage Assistance Relief Services [TXT; PDF]
      12/16/11

    February 13, 2012
  • FDIC Proposes Mutual Insurance Holding Company Rule
    The FDIC has published a proposed rule [TXT; PDF] that would provide that mutual insurance holding companies would be treated as insurance companies under section 203(e) of the Dodd-Frank Act. The proposal is intended to harmonize the treatment of mutual insurance holding companies with the treatment of such companies under state insolvency regimes. Comments on the proposal are due by February 13, 2012.   12/13/11

  • FDIC Proposes Investment Regs for Savings Associations
    The FDIC has published in the Federal Register a proposed rule [TXT; PDF] that would amend its regulations at 12 CFR Part 362 to prohibit any insured savings association from acquiring and retaining a corporate debt security unless it determines, prior to acquiring such security and periodically thereafter, that the issuer has adequate capacity to meet all financial commitments under the security for the projected life of the investment. In a related action, the FDIC published proposed guidance [TXT; PDF] that would assist savings associations in conducting due diligence to determine whether a corporate debt security is eligible for investment under the proposed rule. Comments on both proposals will be accepted through February 13, 2012.   12/15/11

    January 30, 2012
  • Bureau Publishes Complaint Disclosure Proposal
    The Consumer Financial Protection Bureau has published its previously announced request for public comment on a proposed policy statement addressing the Bureau’s proactive disclosure of credit card complaint data. Comments are due by January 30, 2012.  12/8/11

    January 27, 2012
  • Iran Special Measures Regs Proposed
    FinCEN has published proposed regulations [TEXT; PDF] to impose special measures against the Islamic Republic of Iran as a Jurisdiction of Primary Money Laundering Concern. Comments on the proposal, which would add new § 1010.657 to Subchapter F of FinCEN’s Chapter X in the CFR. Comments on the proposal are due by January 27, 2012.   11/28/11

    January 24, 2012
  • FDIC Obligation Limit Regs Proposed
    The FDIC and Treasury have published proposed rules [TEXT; PDF] to govern the calculation of the maximum obligation limitation (“MOL”), as specified in § 210(n)(6) of the Dodd-Frank Act. The MOL limits the aggregate amount of outstanding obligations that the FDIC may issue or incur in connection with the orderly liquidation of a covered financial company. Comments on the proposal are due by January 24, 2012.   11/28/11

    January 17, 2012
  • HUD Proposes FHA Discriminatory Effects Standard
    The Housing and Urban Development Department (HUD) has published a proposed rule [TEXT; PDF] that would establish uniform standards for determining when a housing practice with a discriminatory effect violates the Fair Housing Act. Comments on the proposal are due by January 17, 2012.   11/16/11

    January 13, 2012
  • Volcker Rule Proposal Published
    The OCC, FRB, FDIC and SEC (the “Agencies”) have published a proposed rule [TEXT; PDF] that would implement Section 619 (the “Volcker Rule”) of the Dodd-Frank Act, which contains certain prohibitions and restrictions on the ability of a banking entity and nonbank financial company supervised by the Board to engage in proprietary trading and have certain interests in, or relationships with, a hedge fund or private equity fund. Comments on the proposal, which was announced by the Agencies on October 11, are due by January 13, 2012.   11/7/11

    January 9, 2012
  • FinCEN GSE Proposal Published
    FinCEN has published its previously announced notice of proposed rulemaking (NPRM) [TEXT; PDF], which would require certain housing government sponsored enterprises (GSEs) to establish anti-money laundering programs and report suspicious activities under the Bank Secrecy Act. Comments on the NPRM, which would add Part 1030 to FinCEN’s Title 31 Chapter X regulations, are due by January 9, 2012.   11/8/11

    December 23, 2011
  • COPPA Comment Deadline Extended
    The FTC has extended through December 23, 2011 the comment period for its proposal to amend portions of its regulations under the Children’s Online Privacy Protection Act. The proposal [Text; PDF] was first published in the Federal Register on September 27, 2011 with an original comment deadline of November 28, 2011.  11/22/2011

    December 19, 2011
  • Board’s D and J Proposals Published
    The Federal Reserve Board’s previously announced proposals to amend Regulations D and J to simplify the management of bank reserve balances have been published in the Federal Register. Comments on both proposals are due by December 19, 2011. [Regulation D Text; PDF] [Regulation J Text; PDF]   10/18/2011

    December 16, 2011
  • Treasury Report on Insurance Regulation
    The Treasury Department’s Federal Insurance Office (FIO) has published a request for public comments [Text; PDF] to assist the FIO in conducting a study and formulating recommendations under a mandate in § 313(p) of the Dodd-Frank Act. The FIO is charged with conducting a study on how to modernize and improve the country’s system of insurance regulation. Comments are requested by December 16, 2011.  10/18/11

  • FinCEN Proposal Published
    FinCEN's previously announced proposal (see Top Stories for October 13, 2011, below) to add certain tangible prepaid access devices to the list of monetary instruments to be reported on a CMIR when transported into or out of the U.S. has been published [Text; PDF] in the Federal Register. The comment period for the proposal ends December 16, 2011.   10/17/11

    December 1, 2011
  • Flood Guidance and Interagency Q&A Revisions
    The federal regulators of financial institutions and the Farm Credit Administration have issued a Joint Press Release announcing their Federal Register publication of guidance [Text; PDF] that updates the Interagency Questions and Answers Regarding Flood Insurance that were most recently published in 2009. The Agencies are finalizing two new questions and answers, one relating to insurable value and one relating to force placement, and withdrawing one question and answer regarding insurable value. The two final questions and answers supplement the “Interagency Questions and Answers Regarding Flood Insurance”, which were published on July 21, 2009 (74 FR 35914). Based on comments received, the Agencies also have significantly revised two questions and answers regarding force placement of flood insurance that were initially proposed on July 21, 2009, and are proposing revision to a previously finalized question and answer. These three revised questions and answers are being proposed for comment, with the period for comments ending on December 1, 2011.  10/17/11

    October 11, 2011
  • Fed Posts Proposed Retail FX Reg
    The Federal Reserve Board has published its previously announced proposed rule [TXT; PDF], which would become Regulation NN, to permit banking organizations under its supervision to engage in off-exchange transactions in foreign currency with retail customers. The proposed rule also describes various requirements with which banking organizations must comply to conduct such transactions. Comments on the proposal are due by October 11, 2011.   8/3/2011

    August 1, 2011
  • Agencies Publish Credit Risk Retention Proposal
    The OCC, FRB, FDIC, FHFA, SEC and HUD have published their previously announced (see our Top Stories for April 1, 2011) proposed rules [TXT; PDF] to implement the credit risk retention requirements of section 15G of the Securities Exchange Act of 1934 (15 U.S.C. 78o-11), as added by section 941 of the Dodd-Frank Wall Street Reform and Consumer Protection Act. Section 15G generally requires the securitizer of asset-backed securities to retain not less than five percent of the credit risk of the assets collateralizing the asset-backed securities. Section 15G includes a variety of exemptions from these requirements, including an exemption for asset-backed securities that are collateralized exclusively by residential mortgages that qualify as “qualified residential mortgages,” as such term is defined by the Agencies by rule. Comments on the proposal are due by June 10, 2011.   4/29/11 [Note: Comment period extended to 8/1/11, per notice to be published in the Federal Register.]

    July 30, 2011
  • Subordinated Debt Treatment Rules Published
    The Federal Reserve Board (Board) published an interim final rule announced on June 13 to allow small bank holding companies that are S-Corps or that are organized in mutual form to exclude subordinated debt issued to Treasury under the Small Business Lending Fund (SBLF) from treatment as "debt" for purposes of the debt-to-equity standard under the Board's Small Bank Holding Company Policy Statement. In the same Federal Register document, the Board published a final rule that allows those same bank holding companies to include in Tier 1 capital all subordinated debt issued to Treasury under the TARP, subject to certain limits. Both rules [TXT; PDF] are effective 6/21/11. Comments on the interim final rule are due 7/30/11.  6/21/11

    July 29, 2011
  • Stress Testing Guidance Proposal Published
    The OCC, FRB and FDIC published their previously-announced proposed joint Guidance on Stress Testing for Banking Organizations with More than $10 Billion in Total Consolidated Assets [TXT; PDF]. Comments are due by July 29, 2011.  6/15/11

  • Fed Publishes Reg B Proposed Rule
    The Federal Reserve Board has published in the Federal Register its previously announced proposed rule [TXT; PDF] that would amend Regulation B. The proposal would clarify that motor vehicle dealers will not be required to comply with ECOA data collection requirements added by the Dodd-Frank Act (DFA) until the Board issues final implementing regulations. The DFA exempted motor vehicle dealers from regulations to be issued by the Consumer Financial Protection Bureau under ECOA and other consumer-protection laws, leaving the Board to issue ECOA regulations covering that industry group. Comments are due by July 29, 2011.   6/23/11

    July 22, 2011
  • Fed Publishes Reg. Z Proposal
    The Federal Reserve Board has published its previously announced proposal to amend Regulation Z to require creditors to determine a consumer's ability to repay a mortgage before making a consumer mortgage loan and would establish minimum mortgage underwriting standards. The proposed amendments [TXT; PDF], which implements the Truth in Lending Act (TILA), are being made pursuant to the Dodd-Frank Act. The proposal would apply to all consumer mortgages (except home equity lines of credit, timeshare plans, reverse mortgages, or temporary loans). As noted earlier, the comment period on the proposal closes on July 22, 2011, the day after the Dodd-Frank Act Transfer Date, which means that final action on the proposal must be taken by the Consumer Financial Protection Board (CFPB).   5/11/11

    June 16, 2011
  • Retail FOREX Proposal Published
    The FDIC’s previously announced Proposed Rule [TXT; PDF] on Retail Foreign Exchange Transactions has been published in the Federal Register. Comments are due by June 16, 2011.   5/17/11

    June 3, 2011
  • Fed Proposes Reg CC Overhaul
    In a March 3, 2011 Press Release, the Federal Reserve Board requested public comment on proposed amendments [TXT; PDF] to Regulation CC (Availability of Funds and Collection of Checks) to encourage banks to clear and return checks electronically, add provisions that govern electronic items cleared through the check-collection system, and shorten the “exception” hold periods on deposited funds. The proposal would increase, per the Dodd-Frank Act, the $100 next-day availability requirement for certain check deposits to $200 as of July 21, 2011, eliminate all references to "non-local" checks, and make many other substantive changes to the existing regulation. Comments are due June 3, 2011.  3/4/11

  • FinCEN Proposed Rule Published
    FinCEN has published in the Federal Register its previously announced Notice of Proposed Rulemaking [TXT; PDF] under the Comprehensive Iran Sanctions, Accountability, and Divestment Act of 2010 (“CISADA”), which would require a U.S. bank that maintains a correspondent account for a foreign bank to respond to specific written requests from FinCEN by making certain inquiries of the foreign bank and reporting the results to FinCEN. Comments on the proposal are due by June 1, 2011.   5/2/11

    May 31, 2011
  • Agencies Publish Compensation Proposal
    A proposed rule on incentive compensation [TXT; PDF] announced by the FRB, FDIC, FHFA, NCUA, OCC, OTS and SEC on March 30 has been published in the Federal Register. The proposal, issued under the Dodd-Frank Act, would apply to certain financial institutions with more than $1 billion in assets, and would include heightened standards for the largest of that group. Comments are due by May 31, 2011.  4/14/11

  • Assessment Rate Adjustment Guidelines Published
    The FDIC pubished “Proposed Assessment Rate Adjustment Guidelines for Large and Highly Complex Institutions” [TXT; PDF] for comment in today’s Federal Register. The proposed guidelines would be used to determine how adjustments could be made to the total scores that are used in calculating the deposit insurance assessment rates of large and highly complex insured institutions. Comments are due by May 31, 2011.  4/15/11

    May 16, 2011
  • Agencies Propose Call Report and TFR Revisions
    The OCC, FRB, FDIC and OTS (the “Agencies”) have published a proposal for comment to revise the Consolidated Reports of Condition and Income (Call Report) for banks, the Thrift Financial Report (TFR) for savings associations, the Report of Assets and Liabilities of U.S. Branches and Agencies of Foreign Banks (FFIEC 002), and the Report of Assets and Liabilities of a Non-U.S. Branch that is Managed or Controlled by a U.S. Branch or Agency of a Foreign (Non-U.S.) Bank (FFIEC 002S), effective as of the June 30, 2011, report date. Comments on the proposal [TXT; PDF] are due by May 16, 2011.  3/16/11

    May 2, 2011
  • Another Escrow Change Proposed
    A further change to the Regulation Z escrow requirements was proposed by the Fed in today's Federal Register. The proposal would implement certain amendments to the Truth in Lending Act made by the Dodd-Frank Act, including changes that lengthen the time for which a mandatory escrow account established for a higher-priced mortgage loan must be maintained. In addition, the proposal would implement the Act’s disclosure requirements regarding escrow accounts. The proposal also would exempt certain loans from the statute’s escrow requirement. The primary exemption would apply to mortgage loans extended by creditors that operate predominantly in rural or underserved areas, originate a limited number of mortgage loans, and do not maintain escrow accounts for any mortgage loans they service. [TXT; PDF] Comments must be received on or before May 2, 2011.  3/2/2011

    April 18, 2011
  • Special Measures Rule Proposed
    The Notice of Proposed Rulemaking (NPR) previously announced by FinCEN (see February 11, 2011 Top Stories) has been published in the Federal Register. The NPR would prohibit U.S. financial institutions from opening or maintaining correspondent or payable-through accounts for the Lebanese Canadian Bank SAL as a Financial Institution of Primary Money Laundering Concern. [TXT; PDF]  2/17/11

    April 14, 2011
  • Lebanese Canadian Bank—Primary ML Concern
    FinCEN has announced a finding pursuant to the provisions of Section 311 of the USA PATRIOT Act that the Lebanese Canadian Bank is a financial institution of primary laundering concern. A Notice of Proposed Rulemaking has been issued that would impose special measures prohibiting U.S. financial institutions from opening or maintaining correspondent or payable-through accounts for the bank. Comments are due by April 18, 2011. FinCen also released a Fact Sheet with an overview of Section 311.  2/17/11

    April 11, 2011
  • Agencies Propose Revised Capital Guidelines
    The OCC, Fed and FDIC (Agencies) have published a proposal [Text; PDF] to revise their market risk capital rules to modify their scope to better capture positions for which the market risk capital rules are appropriate; reduce procyclicality in market risk capital requirements; enhance the rules' sensitivity to risks that are not adequately captured under the current regulatory measurement methodologies; and increase transparency through enhanced disclosures. The Agencies will accept comments on the notice of proposed rulemaking through April 11, 2011.  1/11/11

    April 7, 2011
  • IRS Proposes to Expand Interest Reporting Requirement
    The Internal Revenue Service (IRS) has published in the Federal Register a proposed rule that would require the reporting of interest paid to nonresident alien individuals who reside in any foreign country. The regulations would apply to interest payments made after December 31 of the year in which they are published as final regulations in the Federal Register. Current IRS regulations require that financial institutions report the payment of interest to U.S. persons and to nonresident alien persons residing in Canada. TXT; PDF  1/07/11

    March 30, 2011
  • FRB Proposed Rule Published
    The FRB has published a previously announced proposed rule [TXT; PDF] in the Federal Register. The proposed Regulation Y amendment would (1) establish the criteria for determining whether a company is “predominantly engaged in financial activities” and (2) define the terms “significant nonbank financial company” and “significant bank holding company” for purposes of the Dodd-Frank Act.  2/11/11

    Febuary 28, 2011
  • Joint Agencies Propose Rulemaking for Risk-Based Capital Standards
    The Office of the Comptroller of the Currency (OCC), Board of Governors of the Federal Reserve System (Board), and the Federal Deposit Insurance Corporation (FDIC) propose to: Amend the advanced risk-based capital adequacy standards (advanced approaches rules) \1\ to be consistent with certain provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act (the Act) \2\ and amend the general risk-based capital rules \3\ to provide limited flexibility consistent with section 171(b) of the Act for recognizing the relative risk of certain assets generally not held by depository institutions. TXT; PDF  12/30/10

  • NCUA Proposes Rulemaking for Accuracy of Advertising and Notice of Insured Status
    The NCUA Board proposes to revise certain provisions of NCUA's official advertising statement rule. Specifically, insured credit unions will be required to include the statement in all radio and television advertisements, annual reports, and statements of condition required to be published by law. The NCUA Board also proposes to define the term "advertisement" and to clarify size requirements for the official advertising statement in print materials. TXT; PDF  12/30/10

    Febuary 28, 2011
  • FRB Publishes Interim Final Rule for Truth in Lending The Board is publishing for comment an interim rule amending Regulation Z, which implements the Truth in Lending Act (TILA). This interim rule revises the Board's interim rule published on September 24, 2010, which implemented certain requirements of the Mortgage Disclosure Improvement Act of 2008. The September 2010 interim rule requires creditors who extend consumer credit secured by real property or a dwelling to disclose summary information about interest rates and payment changes in a tabular format. This rule clarifies the requirements for adjustable-rate transactions that are "5/1 ARM" loans. It corrects the requirements for interest-only loans to clarify that the disclosures should reflect the date of the interest rate change rather than the date the first payment is due under the new rate.TXT; PDF  12/29/10

    Febuary 22, 2011
  • FRB Proposes Rulemaking for Debit Card Interchange Fees and Routing
    The Board is requesting public comment on proposed new Regulation II, Debit Card Interchange Fees and Routing, which: establishes standards for determining whether an interchange fee received or charged by an issuer with respect to an electronic debit transaction is reasonable and proportional to the cost incurred by the issuer with respect to the transaction; and prohibits issuers and networks from restricting the number of networks over which an electronic debit transaction may be processed and from inhibiting the ability of a merchant to direct the routing of an electronic debit transaction to any network that may process such transactions. TXT; PDF  12/28/10

    Febuary 22, 2011
  • Fiscal Services (Treasury) Publishes Interim Final Rule in FR for Federal Government Participation in the Automated Clearing House
    The Department of the Treasury, Financial Management Service (FMS) is amending its regulation governing the use of the Automated Clearing House (ACH) system by Federal agencies to permit the delivery of Federal payments to prepaid debit cards that meet certain criteria. To be eligible to receive Federal payments, a card must provide the cardholder with pass-through deposit or share insurance and the card account must not have an attached line of credit or loan feature that triggers automatic repayment from the card account. In addition, the issuer of the card account must provide the cardholder with all of the consumer protections that apply to a payroll card under the Federal Reserve Board's Regulation E. TXT; PDF  12/22/10

    Febuary 22, 2011
  • NCUA Proposes Rulemaking for Share Insurance
    Section 343 of the Dodd-Frank Wall Street Reform and Consumer Protection Act provides that, on a temporary basis, the NCUA Board shall fully insure the net amount that any member or depositor at an insured credit union maintains in a noninterest-bearing transaction account. Although this insurance coverage is self-implementing, and therefore already in place, this proposed rule: clarifies the definition of the term "noninterest-bearing transaction account"; provides that this new insurance coverage is separate from, and in addition to, other coverage provided in NCUA's share insurance rules; and imposes certain notice and disclosure requirements. TXT; PDF  12/22/10

    Febuary 22, 2011
  • NCUA Proposes Rulemaking for Sample Income Data to Meet the Low-Income
    The NCUA is proposing to permit federal credit unions that do not qualify for a low-income designation using the geo-coding software the NCUA has developed for that purpose to submit an analysis of a statistically valid sample of their member income data as evidence they qualify. Permitting FCUs to use a statistically valid sample of member incomes drawn from loan files or a survey will ease the burden on FCUs attempting to qualify for a low-income designation. TXT; PDF  12/22/10

    Febuary 7, 2011
  • FinCEN Proposes Rulemaking for Anti-Money Laundering Program and Suspicious Activity Report Filing Requirements
    FinCEN, a bureau of the Department of the Treasury, is issuing proposed rules defining non-bank residential mortgage lenders and originators as loan or finance companies for the purpose of requiring them to establish anti-money laundering programs and report suspicious activities under the Bank Secrecy Act. TXT; PDF  12/09/10

    February 2, 2011
  • FRB Proposes Rulemaking for Consumer Leasing
    Effective July 21, 2011, the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) amends the Consumer Leasing Act (CLA) by increasing the threshold for exempt consumer leases from $25,000 to $50,000. In addition, the Dodd-Frank Act provides that, on or after December 31, 2011, this threshold must be adjusted annually by any annual percentage increase in the Consumer Price Index for Urban Wage Earners and Clerical Workers. Accordingly, the Board is proposing to make corresponding amendments to Regulation M, which implements the CLA, and to the accompanying staff commentary. Because the Dodd-Frank Act also increases the Truth in Lending Act's threshold for exempt consumer credit transactions from $25,000 to $50,000, the Board is proposing similar amendments to Regulation Z elsewhere in today's Federal Register. TXT; PDF  12/16/10

    February 2, 2011
  • FRB Also Proposes Rulemaking for Truth in Lending
    Accordingly, the Board is proposing to make corresponding amendments to Regulation Z, which implements TILA, and to the accompanying staff commentary. Because the Dodd-Frank Act also increases the Consumer Leasing Act's threshold for exempt consumer leases from $25,000 to $50,000, the Board is proposing similar amendments to Regulation M elsewhere in today's Federal Register. TXT; PDF  12/09/10

    January 31, 2011
  • FDIC Publishes Interim Final Rule in FR for Securities of Nonmember Insured Banks
    The FDIC is revising its securities disclosure regulations applicable to state nonmember banks with securities required to be registered under section 12 of the Securities Exchange Act of 1934 (Exchange Act). The final rule cross references changes in regulations adopted by the Securities and Exchange Commission (SEC) into the provisions of the FDIC's securities regulations. TXT; PDF   11/30/10

    January 28, 2011
  • FTC Proposes Rulemaking for Telemarketing Sales
    The Commission requests public comment on provisions of the FTC's Telemarketing Sales Rule concerning caller identification services and disclosure of the identity of the seller or telemarketer responsible for telemarketing calls.TXT; PDF  12/15/10

    January 28, 2011
  • NCUA Proposes Rulemaking for Corporate Credit Unions - Extension of Comment Period
    On November 18, 2010, the NCUA Board issued a proposed rule amending its corporate credit union rule. NCUA has received a request to extend the comment period set in the proposed rule and has determined to extend the comment period for an additional 30 days. TXT; PDF  12/06/10

    January 10, 2011
  • FRB Proposes Rulemaking for Conformance Period for Entities Engaged in Prohibited Proprietary Trading or Private Equity Fund or Hedge Fund Activities
    The Board is requesting comment on a proposed rule that would implement the conformance period during which banking entities and nonbank financial companies supervised by the Board must bring their activities and investments into compliance with the prohibitions and restrictions on proprietary trading and relationships with hedge funds and private equity funds imposed by section 619 of the Dodd-Frank Wall Street Reform and Consumer Protection Act). Section 619 is commonly referred to as the "Volcker Rule". TXT; PDF  11/29/10
    January 10, 2011
  • Assessments, Large Bank Pricing
    The FDIC proposes to revise the assessment system applicable to large insured depository institutions (IDIs or institutions) to better differentiate IDIs and take a more forward-looking view of risk; to better take into account the losses that the FDIC may incur if such an IDI fails; and to make technical and other changes to the rules governing the risk-based assessment system, including proposed changes to the assessment base necessitated by the Dodd-Frank Wall Street Reform and Consumer Protection Act. TXT; PDF  11/24/10

    January 3, 2011
  • Assessments, Assessment Base and Rates
    The FDIC is proposing to amend its regulations to implement revisions to the Federal Deposit Insurance Act made by the Dodd-Frank Wall Street Reform and Consumer Protection Act regarding the definition of an institution's deposit insurance assessment base; alter the unsecured debt adjustment in light of the changes to the assessment base; add an adjustment for long-term debt held by an insured depository institution where the debt is issued by another insured depository institution; eliminate the secured liability adjustment; change the brokered deposit adjustment to conform to the change in the assessment base and change the way the adjustment will apply to large institutions; and revise deposit insurance assessment rate schedules, including base assessment rates, in light of the changes to the assessment base. TXT; PDF  11/24/10

    December 29, 2010
  • NCUA Proposes Rulemaking for Corporate Credit Unions
    NCUA is issuing proposed amendments to its rule governing corporate credit unions (corporates). The amendments include internal control and reporting requirements for corporates similar to those required for banks under the Federal Deposit Insurance Act and the Sarbanes-Oxley Act. TXT; PDF  11/30/10

    December 29, 2010
  • FinCEN Proposes Rulemaking for Cross-Border Electronic Transmittals of Funds
    FinCEN, to further its efforts against money laundering and terrorist financing, is proposing to issue regulations that would require certain banks and money transmitters to report to FinCEN transmittal orders associated with certain cross-border electronic transmittals of funds (CBETFs). FinCEN is also proposing to require an annual filing with FinCEN by all banks of a list of taxpayer identification numbers of accountholders who transmitted or received a CBETF. TXT; PDF  10/30/10

    December 27, 2010
  • NCUA Publishes Technical Corrections for Interim Final Rule for Corporate Credit Unions
    NCUA is issuing technical corrections to its corporate credit union rule, published in the Federal Register of October 20, 2010. The amendments: Correct the definition of collateralized debt obligation (CDO) in Sec. 704.2; correct the list of investments exempt from the single obligor limits and credit rating requirements in Sec. 704.6; and correct a date contained in Model Form H of Appendix A to part 704. TXT; PDF  11/24/10

    December 27, 2010
  • FRB Publishes Interim Final Rule in Fr for Truth in Lending
    The Board is publishing an interim final rule for public comment amending Regulation Z (Truth in Lending). The interim rule implements Section 129E of the Truth in Lending Act (TILA), which was enacted on July 21, 2010, as Section 1472 of the Dodd-Frank Wall Street Reform and Consumer Protection Act. TILA Section 129E establishes new requirements for appraisal independence for consumer credit transactions secured by the consumer's principal dwelling. The amendments are designed to ensure that real estate appraisals used to support creditors' underwriting decisions are based on the appraiser's independent professional judgment, free of any influence or pressure that may be exerted by parties that have an interest in the transaction. TXT; PDF  10/28/10

    December 23, 2010
  • Truth in Lending
    The FRB is publishing for comment a proposed rule to amend Regulation Z, which implements the Truth in Lending Act (TILA). The proposed rule would implement Section 1461 of the recently enacted Dodd-Frank Wall Street Reform and Consumer Protection Act. Section 1461 amends TILA to provide a separate, higher threshold for determining coverage of the Board's escrow requirement applicable to higher-priced mortgage loans, for loans that exceed the maximum principal balance eligible for sale to Freddie Mac. TXT; PDF  9/24/10

    November 26, 2010
  • FDIC Proposes Rulemaking for Assessment Dividends, Assessment Rates and Designated Reserve RatioIn order to implement a comprehensive, long-range management plan for the Deposit Insurance Fund, the FDIC is proposing to amend its regulations to: implement the dividend provisions in the Dodd-Frank Wall Street Reform and Consumer Protection Act; set assessment rates; and set the designated reserve ratio at 2 percent. The FDIC seeks comment on all aspects of this NPRM. TXT; PDF  10/27/10

    November 18, 2010
  • FDIC Proposes Rulemaking Implementing Certain Orderly Liquidation Authority Provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act
    The FDIC is proposing a rule with request for comments, which would implement certain provisions of its authority to resolve covered financial companies under Title II of the Dodd-Frank Wall Street Reform and Consumer Protection Act (July 21, 2010). The FDIC's intent in issuing this Proposed Rule is to provide greater clarity and certainty about how key components of this authority will be implemented and to ensure that the liquidation process under Title II reflects the Dodd-Frank Act's mandate of transparency in the liquidation of failing systemic financial companies. TXT; PDF Written comments on the Proposed Rule and questions on that rule must be received by the FDIC not later than November 19, 2010. Written responses to the additional questions posed by the FDIC must be received by the FDIC not later than January 18, 2011.  10/18/10

    November 15, 2010
  • OTS Proposes Rulemaking for Alternatives to the Use of External Credit Ratings in the Regulations of the OTS
    Section 939A of the Dodd-Frank Wall Street Reform and Consumer Protection Act (the Act) directs all Federal agencies to review, no later than one year after enactment, any regulation that requires the use of an assessment of credit-worthiness of a security or money market instrument and any references to or requirements in regulations regarding credit ratings. The agencies are also required under the Act to remove references or requirements of reliance on credit ratings and to substitute an alternative standard of credit-worthiness. TXT; PDF  10/14/10

    November 12, 2010
  • Treasury Proposes Rulemaking for Privacy Act of 1974
    In accordance with the requirements of the Privacy Act of 1974, 5 U.S.C. 552a, the Department of the Treasury gives notice of a proposed amendment to update its Privacy Act regulations, and to add an exemption from certain provisions of the Privacy Act for a system of records related to the Office of Foreign Assets Control (OFAC). TXT; PDF  10/13/10

    October 25, 2010
  • Truth in LendingThe FRB proposes to amend Regulation Z, which implements the Truth in Lending Act (TILA), and the staff commentary to the regulation, as part of a comprehensive review of TILA's rules for home-secured credit. This proposal would revise the rules for the consumer's right to rescind certain open-end and closed-end loan secured by the consumer's principal dwelling. In addition, the proposal contains revisions to the rules for determining when a modification of an existing closed-end mortgage loan secured by real property or a dwelling is a new transaction requiring new disclosures. The proposal would amend the rules for determining whether a closed-end loan secured by the consumer's principal dwelling is a "higher-priced" mortgage loan subject to the special protections in Sec. 226.35. The proposal would provide consumers with a right to a refund of fees imposed during the three business days following the consumer's receipt of early disclosures for closed-end loans secured by real property or a dwelling. The proposal also would amend the disclosure rules for open- and closed-end reverse mortgages. In addition, the proposal would prohibit certain unfair acts or practices for reverse mortgages. A creditor would be prohibited from conditioning a reverse mortgage on the consumer's purchase of another financial or insurance product such as an annuity, and a creditor could not extend a reverse mortgage unless the consumer has obtained counseling. The proposal also would amend the rules for reverse mortgage advertising. TXT; PDF  9/24/10

    October 25, 2010
  • Joint Agencies Propose Rulemaking for Risk-Based Capital Guidelines of the Federal Banking Agencies: Alternatives to the Use of Credit Ratings
    The regulations of the Office of the Comptroller of the Currency (OCC), Board of Governors of the Federal Reserve System (FRB), Federal Deposit Insurance Corporation (FDIC), and Office of Thrift Supervision (OTS) include various references to and requirements based on the use of credit ratings issued by nationally recognized statistical rating organizations (NRSROs). Section 939A of the Dodd-Frank Wall Street Reform and Consumer Protection Act (the Act), enacted on July 21, 2010, requires the agencies to review their regulations that require the use of an assessment of creditworthiness of a security or money market instrument and make reference to, or have requirements regarding, credit ratings. The agencies must then modify their regulations to remove any reference to, or requirements of reliance on, credit ratings in such regulations and substitute in their place other standards of creditworthiness that the agencies determine to be appropriate for such regulations. TXT; PDF  8/25/10

    October 10, 2010
  • OCC and the Treasury Propose Rulemaking for Alternatives to the Use of External Credit Ratings in the Regulations of the OCC
    Section 939A of the Dodd-Frank Wall Street Reform and Consumer Protection Act (the Act) directs all Federal agencies to review, no later than one year after enactment, any regulation that requires the use of an assessment of credit-worthiness of a security or money market instrument and any references to or requirements in regulations regarding credit ratings. The agencies are also required to remove references or requirements of reliance on credit ratings and to substitute an alternative standard of credit-worthiness. Through this ANPR, the OCC seeks comment on the implementation of section 939A with respect to its regulations (other than risk-based capital regulations, which are the subject of a separate ANPR issued jointly with the other Federal banking agencies), including alternative measures of credit-worthiness that may be used in lieu of credit ratings. TXT; PDF  8/13/10

    September 1, 2010
  • HUD Proposes Rulemaking for Real Estate Settlement Procedures Act (RESPA): Strengthening and Clarifying RESPA's "Required Use" Prohibition
    HUD has received complaints that some homebuyers are committing to use a builder's affiliated mortgage lender in exchange for construction discounts or discounted upgrades, without sufficient time to research their contracts or to comparison shop. The purpose of this ANPR is to solicit information that can be used to inform any future revision or clarification of the regulatory definition of the "required use" of affiliated settlement service providers in residential mortgage transactions.TXT; PDF  6/03/10

    August 31, 2010
  • Joint Agencies Propose Rulemaking for Community Reinvestment Act Regulation Hearings
    The OCC, Board, FDIC, and OTS will hold a series of joint public hearings in four cities across the country to receive public comments on the agencies' regulations governing procedures for assessing a financial institution's performance under the Community Reinvestment Act (CRA). The purpose of the hearings is to seek a wide range of views on whether and how the agencies should revise their regulations to better serve the goals of the Community Reinvestment Act. TXT; PDF  6/23/10

    August 22, 2010
  • FRB Publishes Interim Final Rule in FR for Electronic Fund Transfers
    The Board is amending Regulation E, which implements the Electronic Fund Transfer Act, and the official staff commentary to the regulation, in order to implement legislation that modifies the effective date of certain disclosure requirements in the gift card provisions of the Credit Card Accountability Responsibility and Disclosure Act of 2009. TXT; PDF  : 8/17/10

    July 28, 2010
  • FinCEN Proposes Rulemaking for Amendment to the Bank Secrecy Act Regulations--Definitions and Other Regulations Relating to Prepaid Access
    FinCEN is proposing to revise the Bank Secrecy Act regulations applicable to Money Services Businesses with regard to stored value or prepaid access. More specifically, the proposed changes include the following: renaming "stored value" as "prepaid access" and defining that term; deleting the terms "issuer and redeemer" of stored value; imposing suspicious activity reporting, customer information and transaction information recordkeeping requirements on both providers and sellers of prepaid access and, additionally, imposing a registration requirement on providers only; and exempting certain categories of prepaid access products and services posing lower risks of money laundering and terrorist financing from certain requirements. TXT; PDF  6/28/10

    July 26, 2010
  • Joint Agencies Propose Rulemaking for Community Reinvestment Act Regulations
    The OCC, the Board, the FDIC, and the OTS are issuing this proposed rule to revise provisions of our rules implementing the Community Reinvestment Act (CRA). The agencies propose to revise the term "community development" to include loans, investments, and services by financial institutions that support, enable, or facilitate projects or activities that meet the criteria described in Section 2301(c)(3) of the Housing and Economic Recovery Act of 2008 (HERA) and are conducted in designated target areas identified in plans approved by the United States Department of Housing and Urban Development (HUD) under the Neighborhood Stabilization Program, established pursuant to the HERA and the American Recovery and Reinvestment Act of 2009. TXT; PDF  6/24/10

    July 16, 2010
  • FDIC Proposes Rulemaking for:
    1. Special Reporting, Analysis and Contingent Resolution Plans at Certain Large Insured Depository Institutions The FDIC is seeking comment on a proposed rule that would require certain identified insured depository institutions (IDI's) that are subsidiaries of large and complex financial parent companies to submit to the FDIC analysis, information, and contingent resolution plans that address and demonstrate the IDI's ability to be separated from its parent structure, and to be wound down or resolved in an orderly fashion. The IDI's plan would include a gap analysis that would identify impediments to the orderly stand-alone resolution of the IDI, and identify reasonable steps that are or will be taken to eliminate or mitigate such impediments. TXT; PDF  5/17/10

      July 6, 2010
    2. NCUA Proposes Rulemaking for Short-Term, Small Amount Loans
      NCUA proposes to amend its general lending rule to enable federal credit unions (FCUs) to offer short-term, small amount loans (STS loans) as a viable alternative to predatory payday loans. The proposed amendment would permit FCUs to charge a higher interest rate for an STS loan than is permitted under the general lending rule, but the proposal will impose limitations on the permissible term, amount, and fees associated with an STS loan. TXT; PDF  5/005/10

      July 3, 2010
    3. FDIC Proposed Rulemaking for Assessments
      The FDIC proposes to amend our regulations to revise the assessment system applicable to large institutions to better differentiate institutions by taking a more forward-looking view of risk; to better take into account the losses that the FDIC will incur if an institution fails; to revise the initial base assessment rates for all insured depository institutions; and to make technical and other changes to the rules governing the risk-based assessment system. TXT, PDF .   5/03/10

      July 2, 2010
    4. FDIC Proposes Rulemaking for Assessments: Clarification
      The FDIC proposes to amend 12 CFR part 327 to revise the assessment system applicable to large institutions to better differentiate institutions by taking a more forward-looking view of risk; to better take into account the losses that the FDIC will incur if an institution fails; to revise the initial base assessment rates for all insured depository institutions; and to make technical and other changes to the rules governing the risk-based assessment system. TXT; PDF  4/14/10

      July 1, 2010
    5. Treatment by Federal Deposit Insurance Corp. as Conservator or Receiver of Financial Assets
      The FDIC proposes to adopt amendments to the rule regarding the treatment by the FDIC, as receiver or conservator of an insured depository institution, of financial assets transferred by the institution in connection with a securitization or a participation after September 30, 2010. The Proposed Rule would continue the safe harbor for transferred financial assets in connection with securitizations in which the financial assets were transferred under the existing regulations. The Proposed Rule would clarify the conditions for a safe harbor for securitizations or participations issued after September 30, 2010. The Proposed Rule also sets forth safe harbor protections for securitizations that do not comply with the new accounting standards for off balance sheet treatment by providing for expedited access to the financial assets that are securitized if they meet the conditions defined in the Proposed Rule. TXT; PDF  5/17/10

      June 18, 2010
    6. The Treasury Proposes Rulemaking for Garnishment of Accounts Containing Federal Benefit Payments
      The Treasury, SSA, VA, RRB and OPM (Agencies) are publishing a proposed rule for comment, to implement statutory restrictions on the garnishment of Federal benefit payments. The Agencies are taking this action in response to recent developments in technology and debt collection practices that have led to an increase in the freezing of accounts containing Federal benefit payments. The proposed rule would establish procedures that financial institutions must follow when a garnishment order is received for an account into which Federal benefit payments have been directly deposited. It would also require financial institutions that receive a garnishment order for an account to determine whether any Federal benefit payments were deposited to the account within 60 calendar days prior to receipt of the order, and would require them to ensure that the account holder has access to an amount equal to the sum of such payments in the account or to the current balance of the account, whichever is lower. TXT; PDF  4/20/10

      May 28, 2010
    7. NCUA Proposes Rulemaking for Fiduciary Duties at Federal Credit Unions; Mergers and Conversions of Insured Credit Unions
      The proposal documents and clarifies the fiduciary duties and responsibilities of Federal credit union directors, and adds new provisions establishing the procedures for insured credit unions merging into banks. It also amends some of the existing regulatory procedures applicable to insured credit union mergers with other credit unions and conversions to banks. TXT; PDF  3/29/10

      May 24, 2010
    8. NCUA Proposed Rulemaking for Fixed Assets, Member Business Loans, and Regulatory Flexibility Program
      NCUA proposes to revise certain provisions of its Regulatory Flexibility Program (RegFlex) to enhance safety and soundness for credit unions. Those provisions pertain to fixed assets, member business loans (MBL), stress testing of investments, and discretionary control of investments. Some of these revisions will require conforming amendments to NCUA's fixed assets and MBL rules. TXT; PDF  3/25/10

      May 19, 2010
    9. FDIC Publishes Interim Rule in FR for Amendment of Temporary Liquidity Guarantee Program: Extend Transaction Account Guarantee Program with Opportunity to Opt-Out
      The FDIC is issuing this Interim Rule to amend the Transaction Account Guarantee (TAG) component of the Temporary Liquidity Guarantee Program (TLGP) by providing an 6-month extension of the TAG program for insured depository institutions (IDIs) currently participating in the TAG program, with the possibility of an additional 12-month extension of the program without further rulemaking, upon a determination by the FDIC's Board of Directors (Board) that continuing economic difficulties warrant a continued extension. By virtue of this Interim Rule, the TAG program will be extended through December 31, 2010, with the possibility of an additional 12-month extension through December 31, 2011. TXT; PDF  4/19/10

      April 27, 2010
    10. Treasury Proposes Rulemaking for Amendment to the Bank Secrecy Act Regulations
      FinCEN is proposing to revise the regulations implementing the Bank Secrecy Act (BSA) regarding reports of foreign financial accounts. The proposed rule would clarify which persons will be required to file reports of foreign financial accounts and which accounts will be reportable. TXT; PDF  2/26/10

      April 14, 2010
    11. FRB Proposes Rulemaking for Truth in Lending
      The Board proposes to amend Regulation Z, which implements the Truth in Lending Act, and the staff commentary to the regulation in order to implement provisions of the Credit Card Accountability Responsibility and Disclosure Act of 2009 that go into effect on August 22, 2010. In particular, the proposed rule would require that penalty fees imposed by card issuers be reasonable and proportional to the violation of the account terms. The proposed rule would also require credit card issuers to reevaluate at least every six months annual percentage rates increased on or after January 1, 2009. TXT; PDF  3/15/10

      April 4, 2010
    12. NCUA Proposes Rulemaking for Chartering and Field of Membership for Federal Credit Unions
      On December 17, 2009, the NCUA Board issued a proposed rule amending its chartering and field of membership manual to update its community chartering policies and define the terms "rural district" and "in danger of insolvency" for emergency merger purposes. 74 FR 68722 (December 29, 2009). NCUA has received several requests to extend the comment period set in the proposed rule and has determined to extend the comment period for an additional 45 days. TXT; PDF  2/08/10

      March 31, 2010
    13. FRB Publishes Proposed Rule for Electronic Fund Transfers
      On November 17, 2009, the Board published final rules amending Regulation E, which implements the Electronic Fund Transfer Act, and the official staff commentary to the regulation. The final rule limited the ability of financial institutions to assess overdraft fees for paying automated teller machine (ATM) and one-time debit card transactions that overdraw a consumer's account, unless the consumer affirmatively consents, or opts in, to the institution's payment of overdrafts for those transactions. The Board proposes to amend Regulation E and the official staff commentary to clarify certain aspects of the final rule. TXT; PDF  3/01/10

      March 31, 2010
    14. FRB Publishes Proposed Rule for Truth in Savings
      On January 29, 2009, the Board published final rules amending Regulation DD, which implements the Truth in Savings Act, and the official staff commentary to the regulation. The final rule addressed depository institutions' disclosure practices related to overdraft services, including balances disclosed to consumers through automated systems. The Board proposes to amend Regulation DD and the official staff commentary to clarify the application of the rule to retail sweep programs and the terminology for overdraft fee disclosures, and to make amendments that conform to the Board's final Regulation E amendments addressing overdraft services, adopted in November 2009. TXT; PDF  3/01/10

      March 22, 2010
    15. NCUA Publishes Interim Final Rule in FR for Secondary Capital Accounts
      NCUA is amending its rules governing secondary capital accounts to permit low-income designated credit unions to redeem all or part of secondary capital accepted from the United States Government or any of its subdivisions at any time after the secondary capital has been on deposit for two years. The amendments will also allow early redemption, under the same terms and conditions, of secondary capital accepted as a match to the government-funded secondary capital. Finally, the amendments change the loss distribution provision that applies to secondary capital accounts so that secondary capital accepted under the 2010 Community Development Capital Program is senior to any required matching secondary capital accepted from an alternative source. TXT; PDF  2/19/10

      March 9, 2010
    16. NCUA Proposes Rulemaking for Corporate Credit Unions
      NCUA is issuing proposed amendments to its rule governing corporate credit unions contained in part 704. The major revisions involve corporate credit union capital, investments, asset-liability management, governance, and credit union service organization (CUSO) activities. The amendments would establish a new capital scheme, including risk-based capital requirements; impose new prompt corrective action requirements; place various new limits on corporate investments; impose new asset-liability management controls; amend some corporate governance provisions; and limit a corporate CUSO to categories of services preapproved by NCUA. TXT; PDF  12/09/09

      March 5, 2010
    17. Treasury Fiscal Service Proposes Rulemaking for Endorsement and Payment of Checks Drawn on the United States Treasury
      The Department of the Treasury, Financial Management Service (FMS), is proposing to amend its regulation governing the endorsement and payment of checks drawn on the United States Treasury, to provide that Treasury may direct Federal Reserve Banks to debit a financial institution's account at the financial institution's servicing Federal Reserve Bank for all check reclamations that the financial institution has not protested. Financial institutions will continue to have the right to file a protest with FMS if they believe a proposed reclamation is in error. TXT; PDF  1/04/10

      March 1, 2010
    18. NCUA Proposes Rulemaking for Chartering and Field of Membership for Federal Credit Unions
      The NCUA Board proposes to amend its chartering and field of membership manual to update its community chartering policies. These amendments include using objective and quantifiable criteria to determine the existence of a local community and defining the term "rural district". The amendments clarify NCUA's marketing plan requirements for credit unions converting to or expanding their community charters and define the term "in danger of insolvency" for emergency merger purposes. TXT; PDF  12/29/09

      February 22, 2010
    19. FDIC Proposes Rulemaking for Treatment by the Federal Deposit Insurance Corporation as Conservator or Receiver of Financial Assets
      The Federal Deposit Insurance Corporation is issuing this Advance Notice of Proposed Rulemaking to solicit public comment regarding proposed amendments regarding the treatment by the FDIC, as receiver or conservator of an insured depository institution, of financial assets transferred by the institution in connection with a securitization or a participation after March 31, 2010 (the "ANPR"). The ANPR requests comments on the standards that should be adopted to provide safe harbor treatment in connection with participations and securitizations issued after March 31, 2010. TXT; PDF  1/07/10

      February 18, 2010
    20. FDIC Propsoes Rulemaking for Incorporating Employee Compensation Criteria Into The Risk Assessment System
      The FDIC is seeking comment on ways that the FDIC's risk-based deposit insurance assessment system (risk-based assessment system) could be changed to account for the risks posed by certain employee compensation programs. Section 7 of the Federal Deposit Insurance Act (FDI Act) sets forth the risk-based assessment authorities underlying the FDIC's deposit insurance system.TXT; PDF  1/19/10

      February 16, 2010
    21. Treasury Proposes Rulemaking for TARP; Privacy Act of 1974
      In accordance with the requirements of the Privacy Act of 1974, 5 U.S.C. 552a, the Department of the Treasury gives notice of a proposed amendment to this part to exempt several systems of records maintained by the Office of the Special Inspector General for the Troubled Asset Relief Program (SIGTARP) from certain provisions of the Privacy Act. TXT; PDF  1/14/10

      February 16, 2010
    22. HUD Proposes Rulemaking for SAFE Mortgage Licensing Act
      HUD published proposed rules covering its responsibilities under the SAFE Mortgage Licencing Act.TXT; PDF  12/09/09

      January 19, 2010
    23. FRB Publishes Interim Final Rule in FR for Truth in Lending
      The Board is publishing for public comment an interim final rule amending Regulation Z (Truth in Lending). The interim rule implements Section 131(g) of the Truth in Lending Act (TILA), which was enacted on May 20, 2009, as Section 404(a) of the Helping Families Save Their Homes Act. TILA Section 131(g) became effective immediately upon enactment and established a new requirement for notifying consumers of the sale or transfer of their mortgage loans. TXT; PDF Effective: 11/20/09, with mandatory compliance 1/19/10

      January 4, 2010
    24. FDIC Publishes Interim Final Rule in FR for Defining Safe Harbor Protection for Treatment as Conservator or Receiver of Financial Assets
      The Federal Deposit Insurance Corporation is amending its regulations defining safe harbor protection for treatment by the Federal Deposit Insurance Corporation as conservator or receiver of financial assets transferred in connection with a securitization or participation. The amendment continues for a limited time the safe harbor provision for participations or securitizations that would be affected by recent changes to generally accepted accounting principles. TXT; PDF  11/17/09

      December 24, 2009
    25. FRB Proposes Rulemaking for Truth in Lending
      This proposal would revise the rules for disclosures of closed-end credit secured by real property or a consumer's dwelling, except for rules regarding rescission and reverse mortgages, which the Board anticipates will be reviewed at a later date. Disclosures provided at application would include a Board-published one-page "Key Questions to Ask About Your Mortgage" document that explains potentially risky loan features, and a Board-published one-page "Fixed vs. Adjustable Rate Mortgages" document. Transaction- specific disclosures required within three business days of application would summarize key loan terms. The calculation of the annual percentage rate and the finance charge would be revised to be more comprehensive, and their disclosures improved. Consumers would receive a "final" TILA disclosure at least three business days before consummation.TXT; PDF  8/26/09

      December 24, 2009
    26. FRB Proposes Rulemaking for Truth in Lending (HELOCS)
      The Board proposes to amend Regulation Z, which implements the Truth in Lending Act (TILA), and the Official Staff Commentary to the regulation, following a comprehensive review of TILA's rules for open-end home-secured credit, or home-equity lines of credit (HELOCs). The Board proposes changes to the format, timing, and content requirements for the four main types of HELOC disclosures required by Regulation Z: disclosures at application; disclosures at account opening; periodic statements; and change-in-terms notices. The Board proposes to replace disclosures required at the time that a consumer applies for a HELOC with a one-page, Board-published summary of basic information and risks regarding HELOCs. The Board also proposes to move the timing of disclosures regarding a creditor's HELOC plan from the time of application to within three business days after application, and to require the disclosures to include significant transaction- specific rates and terms.TXT; PDF  8/26/09

      December 21, 2009
    27. FRB Proposes Rulemaking for Electronic Fund Transfers
      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 proposal restricts a person's ability to impose dormancy, inactivity, or service fees for certain prepaid products, primarily gift cards. In addition, the proposal generally prohibits the sale or issuance of such products if they have an expiration date of less than five years. TXT; PDF December 16, 2009
    28. FinCEN Proposes Rulemaking for Expansion of Special Information Sharing Procedures to Deter Money Laundering and Terrorist Activity
      FinCEN is issuing this notice of proposed rulemaking to amend the relevant Bank Secrecy Act ("BSA") information sharing rules to allow certain foreign law enforcement agencies, and State and local law enforcement agencies, to submit requests for information to financial institutions.TXT; PDF  11/16/09

      November 20, 2009
    29. FRB Proposes Rulemaking for Turth in Lending
      The Board proposes to amend Regulation Z, which implements the Truth in Lending Act, and the staff commentary to the regulation in order to implement provisions of the Credit Card Accountability Responsibility and Disclosure Act of 2009 that are effective on February 22, 2010. The proposed rule would limit the application of increased rates to existing credit card balances, require credit card issuers to consider a consumer's ability to make the required payments, establish special requirements for extensions of credit to consumers who are under the age of 21, and limit the assessment of fees for exceeding the credit limit on a credit card account. TXT; PDF  10/21/09

      November 16, 2009
    30. The Treasury Proposes Rulemaking for the Drawback of Internal Revenue Excise Tax
      This document proposes to amend title 19 of the Code of Federal Regulations to preclude situations where imported merchandise subject to Federal excise tax is allowed into the United States, in effect, 99 percent free of that tax through application of a drawback claim. This document also proposes to amend title 19 by adding a basic importation and entry bond condition to foster compliance with the amended drawback provision. TXT; PDF  10/15/09

      liability. November 9, 2009
    31. FRB Proposes Rulemaking for Extension of Credit by Federal Reserve Banks
      The Board of Governors (Board) is publishing for public comment a proposed amendment to Regulation A that would provide a process by which the Federal Reserve Bank of New York may determine the eligibility of credit rating agencies and the ratings they issue for use in the Term Asset-Backed Securities Loan Facility, which is maintained by the Federal Reserve Bank of New York and for which the Board has expressly set a particular credit rating requirement for collateral offered by the borrower. The proposed rule would not apply to discount window lending or other extensions of credit provided by the Federal Reserve System. In addition, the rule would only apply to asset-backed securities that are not backed by commercial real estate.TXT; PDF  10/08/09

      October 28, 2009
    32. FDIC Proposes Rulemaking for Assessments - Paperwork Reduction Act
      On October 2, 2009, the Federal Deposit Insurance Corporation (FDIC) issued a notice of proposed rulemaking with request for comments to amend its assessment regulations to require insured institutions to prepay, on December 30, 2009, their estimated quarterly risk-based assessments for the fourth quarter of 2009, and for all of 2010, 2011, and 2012. The FDIC would begin to offset prepaid assessments on March 30, 2010, representing payment for the fourth quarter of 2009. The FDIC is supplementing that notice of proposed rulemaking with a Paperwork Reduction Act analysis and seeking comment on the Paperwork Reduction Act implications of the proposed rule. TXT; PDF  10/14/09

      October 28, 2009
    33. FDIC Proposes Rulemaking for Prepaid Assessments
      Pursuant to Section 7(b) of the Federal Deposit Insurance Act, the FDIC is proposing to amend its assessment regulations to require insured institutions to prepay, on December 30, 2009, their estimated quarterly risk-based assessments for the fourth quarter of 2009, and for all of 2010, 2011, and 2012. The FDIC would begin to offset prepaid assessments on March 30, 2010, representing payment for the fourth quarter of 2009. TXT; PDF  10/02/09

      October 15, 2009
    34. Joint Agencies Propose Rulemaking for Risk-Based Capital Guidelines; Capital Adequacy Guidelines; Capital Maintenance: Regulatory Capital; Impact of Modifications to Generally Accepted Accounting Principles; Consolidation of Asset-Backed Commercial Paper Programs; and Other Related Issues
      The Office of the Comptroller of the Currency (OCC), Board of Governors of the Federal Reserve System (Board), Federal Deposit Insurance Corporation (FDIC), and the Office of Thrift Supervision (OTS) (collectively, the agencies) are requesting comment on a proposal to modify their general risk-based and advanced risk-based capital adequacy frameworks to eliminate the exclusion of certain consolidated asset-backed commercial paper programs from risk-weighted assets and provide a reservation of authority in their general risk-based and advanced risk-based capital adequacy frameworks to permit the agencies to require banking organizations to treat entities that are not consolidated under accounting standards as if they were consolidated for risk-based capital purposes, commensurate with the risk relationship of the banking organization to the structure. TXT; PDF  9/01/09

      October 1, 2009
    35. FDIC Proposes Rulemaking for Expiration of the Issuance Period for the Debt Guarantee Program: Establishment of Emergency Guarantee Facility
      Under the first alternative, the DGP would conclude as provided in the current regulation. Thus, insured depository institutions (IDIs) and certain other participating entities would be permitted to issue FDIC-guaranteed debt no later than October 31, 2009, with the FDIC's guarantee for such debt expiring no later than December 31, 2012. Under the second alternative, the DGP would expire as indicated above; however, the FDIC would establish a limited six-month emergency guarantee facility to be made available in emergency circumstances to insured depository institutions (IDIs) and certain other entities participating in the DGP upon application to and with the prior approval of the FDIC. Under the proposed emergency guarantee facility, the FDIC would guarantee senior unsecured debt issued on or before April 30, 2010. The emergency guarantee facility would be available on a limited, case-by-case basis to insured depository institutions (IDIs) participating in the DGP and to other entities participating in the DGP that have issued FDIC-guaranteed debt under the DGP by September 9, 2009. TXT; PDF  9/01/09

      September 21, 2009
    36. FRB Publishes Interim Final Rule in FR for Truth in Lending
      The Board is amending Regulation Z, which implements the Truth in Lending Act, and the staff commentary to the regulation in order to implement provisions of the Credit Card Accountability Responsibility and Disclosure Act of 2009 that are effective on August 20, 2009. TXT; PDF   7/22/09

      September 20, 2009
    37. FinCEN Proposes Rulemaking for Anti-Money Laundering Program and Suspicious Activity Report Requirements for Non-Bank Residential Mortgage Lenders and Originators
      FinCEN is issuing this advance notice of proposed rulemaking (ANPRM) to solicit public comment on a wide range of questions pertaining to the possible application of anti-money laundering (AML) program and suspicious activity report (SAR) regulations to a specific sub-set of loan and finance companies: Non-bank residential mortgage lenders and originators. FinCEN seeks comment on: An incremental approach to the issuance of regulations for loan and finance companies that would initially affect only those persons engaged in non-bank residential mortgage lending or origination; how any such regulations should define persons engaged in non-bank residential mortgage lending or origination; the financial crime and money laundering risks posed by such persons; how AML programs for such persons should be structured; whether such persons should be covered by BSA requirements other than the AML program requirement, including SAR reporting; and whether any such persons should be exempted from AML program or SAR reporting requirements. TXT; PDF   7/21/09

      September 3, 2009
    38. FinCEN Proposes Rulemaking for Financial Crimes Enforcement Network: Amendment to the Bank Secrecy Act Regulations
      FinCEN is proposing to include mutual funds within the general definition of "financial institution" in rules implementing the Bank Secrecy Act ("BSA"). The proposal would subject mutual funds to rules under the BSA on the filing of Currency Transaction Reports ("CTRs") and on the creation, retention, and transmittal of records or information for transmittals of funds. TXT; PDF  6/05/09

      August 24, 2009
    39. NCUA Proposes Rulemaking for National Credit Union Share Insurance Fund Premium and One Percent Deposit
      Section 741.4 of NCUA's rules describes the procedures for the capitalization and maintenance of the National Credit Union Share Insurance Fund (NCUSIF). The current rule, however, does not adequately address how credit unions that enter or depart the NCUSIF system in a given calendar year are affected by any NCUSIF premium or deposit replenishment assessments in that same year. Due to the unprecedented level of NCUSIF expenses in 2009, which required the NCUA to announce both such assessments, NCUA is now proposing amendments to Sec. 741.4 to clarify these procedures. TXT; PDF   7/24/09

      August 24, 2009
    40. NCUA Publishes Interim Final Fule in FR for Exception to the Maturity Limit on Second Mortgages
      NCUA is amending its lending rules to create a limited exception to the 20-year maturity limit on second mortgage loans. The amendment will permit federal credit unions participating in the Department of the Treasury's Making Home Affordable Program to modify a second mortgage loan, beyond 20 years, to match the term of a modified first mortgage loan. TXT; PDF  6/24/09

      August 14, 2009
    41. The Treasury Publishes Interim Final Rule in FR for TARP Standards for Compensation and Corporate Governance
      This interim final rule, provides guidance on the executive compensation and corporate governance provisions of EESA that apply to entities that receive financial assistance under the Troubled Asset Relief Program (TARP). Section 111 of EESA requires entities receiving financial assistance (TARP recipients) from the Department of the Treasury (Treasury) to meet appropriate standards for executive compensation and corporate governance. This interim final rule includes standards for TARP recipients that implement the provisions of section 111 of EESA, as well as certain additional standards adopted pursuant to the authority granted the Treasury under section 111(b)(2) to promulgate such additional standards. TXT; PDF  6/09/09

      August 1, 2009
    42. Joint Agencies Propose Rulemaking for Guidelines for Furnishers of Information to Consumer Reporting Agencies
      The OCC, Board, FDIC, OTS, NCUA, and FTC (Agencies) request comment to gather information that would assist the Agencies in considering the development of a possible proposed addition to the furnisher accuracy and integrity guidelines that were issued in today's Federal Register. TXT; PDF  7/01/09

      July 30, 2009
    43. Joint Agencies Publish Interim Final Rule in FR for Risk-Based Capital Guidelines; Capital Adequacy Guidelines: Residential Mortgage Loans Modified Pursuant to the Making Home Affordable Program
      To support and facilitate the timely implementation and acceptance of the Making Home Affordable Program (Program) announced by the U.S. Department of the Treasury (Treasury) and to promote the stability of banks, savings associations, bank holding companies (collectively, banking organizations) and the financial system, the Office of the Comptroller of the Currency (OCC), Board of Governors of the Federal Reserve System (Board), Federal Deposit Insurance Corporation (FDIC), and the Office of Thrift Supervision (OTS) (collectively, the agencies) have adopted this interim final rule (interim final rule or rule). The rule provides that mortgage loans modified under the Program will retain the risk weight assigned to the loan prior to the modification, so long as the loan continues to meet other applicable prudential criteria. TXT; PDF  6/30/09

      July 30, 2009
    44. Joint Agencies Propose Rulemaking for Community Reinvestment Act Regulations
      The OCC, the Board, the FDIC, and the OTS are issuing this notice of proposed rulemaking that would revise our rules implementing the Community Reinvestment Act (CRA). The proposed rule would incorporate into our rules recently adopted statutory language that requires the Agencies, when assessing an institution's record of meeting community credit needs, to consider, as a factor, low-cost education loans provided by the financial institution to low-income borrowers. The proposal also would incorporate into our rules statutory language that allows the Agencies, when assessing an institution's record, to consider as a factor capital investment, loan participation, and other ventures undertaken by nonminority-owned and nonwomen-owned financial institutions in cooperation with minority- and women-owned financial institutions and low-income credit unions. TXT; PDF  6/30/09

      July 30, 2009

    45. The FDIC is issuing this Notice of Proposed Rulemaking to present and request comment on two alternatives for phasing out the Transaction Account Guarantee (TAG) component of the Temporary Liquidity Guarantee Program (TLGP). Under the first proposed alternative, the FDIC's guarantee of deposits held in qualifying noninterest-bearing transaction accounts subject to the TAG program would continue until December 31, 2009. There would be no modification of the existing fee structure or any other change in the FDIC's guarantee of noninterest-bearing transaction accounts, as provided for in the current regulation. Under the second proposed alternative, the TAG program would be extended for six months until June 30, 2010. Insured depository institutions (IDIs) that are currently participating in the TAG program would be provided a single opportunity to opt out of the extended TAG program. IDIs that opt out of the extended TAG program would be required to update their disclosure postings and notices to indicate that they are no longer participating in the program. Under this proposal, IDIs choosing to participate in the extended TAG program, would be subject to increased fees for the FDIC's extended guarantee of its qualifying noninterest-bearing transaction accounts. Also, IDIs participating in the extended TAG program might be required to update their disclosures related to the TAG program. TXT; PDF  6/30/09

      July 9, 2009
      Comments must be received on or before July 9, 2009. Comments on the Paperwork Reduction Act analysis set forth in Part II of the Regulatory Analysis Section of this Federal Register notice must be received on or before August 10, 2009. Joint Agencies Propose Rulemaking for Registration of Mortgage Loan Originators
      The OCC, Board, FDIC, OTS, FCA, and NCUA are proposing amendments to their rules to implement the Secure and Fair Enforcement for Mortgage Licensing Act (the S.A.F.E. Act). The S.A.F.E. Act requires an employee of a bank, savings association, credit union or other depository institution and their subsidiaries regulated by a Federal banking agency or an employee of an institution regulated by the FCA who acts as a residential mortgage loan originator to register with the Nationwide Mortgage Licensing System and Registry, obtain a unique identifier, and maintain this registration. TXT; PDF  6/03/09

      July 1, 2009
      Small Bank Holding Company Policy Statement: Treatment of Subordinated Securities Issued to the United States Treasury
      The Board has adopted, and is seeking public comment on an interim final rule to support in a timely manner, the full implementation and acceptance of the capital purchase program of the U.S. Department of Treasury and promote the stability of banking organizations and the financial system. This rule permits bank holding companies that have made a valid election to be taxed under Subchapter S of Chapter 1 of the U.S. Internal Revenue Code (S-Corp BHCs) and bank holding companies organized in mutual form (Mutual BHCs) to include the full amount of any new subordinated debt securities issued to the Treasury under the capital purchase program announced by the Secretary of the Treasury on October 14, 2008 (Subordinated Securities) in tier 1 capital for purposes of the Board's risk-based and leverage capital guidelines for bank holding companies, provided that the Subordinated Securities will count toward the limit on the amount of other restricted core capital elements includable in tier 1 capital; and allows bank holding companies that are subject to the Board's Small Bank Holding Company Policy Statement and that are S-Corps or Mutual BHCs to exclude the Subordinated Securities from treatment as debt for purposes of the debt-to-equity standard under the Small Bank Holding Company Policy Statement.TXT; PDF   6/1/09/09

      June 23, 2009
    46. OCC Proposes Rulemaking for Freedom of Information Act
      The Office of the Comptroller of the Currency (OCC) is proposing to amend its regulations governing the disclosure of information pursuant to requests made under the Freedom of Information Act (FOIA) to reflect recent changes to the FOIA made by the Openness Promotes Effectiveness in Our National Government Act of 2007 (OPEN Government Act) and to make other changes that update the OCC's FOIA regulations. TXT; PDF  4/24/09

      June 8, 2009
    47. The OCC, OTS and Treasury Propose Rulemaking for Confidentiality of Suspicious Activity Reports
      The OCC and OTS propose to amend its regulations implementing the Bank Secrecy Act (BSA) governing the confidentiality of a suspicious activity report (SAR) to: Clarify the scope of the statutory prohibition on the disclosure by a financial institution of a report of a suspicious transaction, as it applies to national banks; address the statutory prohibition on the disclosure by the government of a SAR, as that prohibition applies to the OCC's standards governing the disclosure of SARs; clarify the exclusive standard applicable to the disclosure of a SAR, or any information that would reveal the existence of a SAR, by the OCC is "to fulfill official duties consistent with the purposes of the BSA;" and modify the safe harbor provision in its rules to include changes made by the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism (USA PATRIOT) Act. These amendments are based upon a similar proposal being contemporaneously issued by the Financial Crimes Enforcement Network (FinCEN). OCC TXT; OCC PDF; OTS TXT; OTS PDF  3/9/09

    48. The OCC and OTS Propose Rulemaking for Standards Governing the Release of a Suspicious Activity Report
      The Office of the Comptroller of the Currency (OCC) is proposing to revise its regulations governing the release of non-public OCC information. The primary change being proposed would clarify that the OCC's decision to release a suspicious activity report (SAR) will be governed by the standards set forth in proposed amendments to the OCC's SAR regulation that are part of a separate, but simultaneous, rulemaking.TXT; PDF  3/9/09

    49. FinCEN Proposes Rulemaking for Interpretive Guidance--Sharing Suspicious Activity Reports by Depository Institutions With Certain U.S. Affiliates
      FinCEN is issuing for comment a proposed interpretive guidance, which interprets a provision to permit a bank to share a SAR with its affiliates that also are subject to SAR rules. TXT; PDF  3/9/09

    50. FinCEN Proposes Rulemaking for Interpretive Guidance – Sharing Suspicious Activity Reports by Securities Broker–Dealers and others.
      FinCEN is issuing for comment a proposed interpretive guidance, which interprets a provision to permit a securities broker-dealer, mutual fund, futures commission merchant, or introducing broker in commodities to share a SAR with its affiliates that are also subject to SAR rules. TXT; PDF  3/9/09

      June 4, 2009
    51. Joint Agencies Propose Rulemaking for Unfair or Deceptive Acts or Practices
      In December 2008, the Board, OTS, and NCUA (collectively, the Agencies) exercised their authority under the Federal Trade Commission Act to issue a final rule prohibiting institutions from engaging in specific acts or practices in connection with consumer credit card accounts. The Agencies understand that clarification is needed regarding certain aspects of the final rule. Accordingly, in order to facilitate compliance, the Agencies propose to amend specific portions of the regulations and official staff commentary. TXT; PDF  5/05/09

      June 4, 2009, and June 6, 2009
      Comments on the proposed amendments must be received on or before June 4, 2009. Comments on the Paperwork Reduction Act analysis set forth in Section V of this Federal Register notice must be received on or before July 6, 2009.
    52. FRB Proposes Rulemaking for Truth inLending
      On December 18, 2008, the Board adopted a final rule amending Regulation Z's provisions that apply to open-end (not home-secured) credit plans. The Board believes that clarification is needed regarding compliance with certain aspects of the final rule. Accordingly, in order to facilitate compliance, the Board proposes to amend specific portions of the regulations and official staff commentary. TXT; PDF  5/05/09

      May 26, 2009
    53. NCUA Proposes Rulemaking for Credit Union Reporting
      NCUA is modernizing the way insured credit unions submit reports and other important information and has developed an online, Web-based system to make reporting more efficient and cost effective. The new system will also enhance the accuracy of information by providing a means for updating certain data outside the financial reporting cycle. NCUA is proposing revisions to its regulations involving reporting procedures and record retention requirements to conform regulatory provisions to the new online system. The proposal incorporates into the regulation a statutory requirement on reporting changes in senior officials resulting from election or appointments and would clarify requirements on when credit unions file reports with NCUA online. The proposal also includes provisions that provide alternative reporting methods for credit unions unable to submit online reports. TXT; PDF  3/26/09

    54. NCUA Proposes Rulemaking for Truth in Savings Act Disclosures
      As required by the Truth in Savings Act (TISA), NCUA is proposing to amend its TISA rule and official staff interpretation to align it with the Federal Reserve Board's Regulation DD. Specifically, the rule would amend the provisions and provide guidance on the electronic delivery of disclosures. Additionally, NCUA is proposing to amend the rule and the official staff commentary to require all credit unions to disclose aggregate overdraft fees on periodic statements; currently, this disclosure requirement only applies to credit unions that promote the payment of overdrafts. The proposed rule also addresses balance disclosures credit unions provide to members through automated systems. TXT; PDF  3/26/09

    55. FRB proposes Rulemaking for Turth in Lending
      The Board proposes to amend Regulation Z, which implements the Truth in Lending Act (TILA) following the passage of the Higher Education Opportunity Act (HEOA). Title X of the HEOA amends TILA by adding disclosure and timing requirements that apply to creditors making private education loans, which are defined as loans made expressly for postsecondary educational expenses, but excluding open-end credit, real estate-secured loans, and loans made, insured, or guaranteed by the Federal government under title IV of the Higher Education Act of 1965. The HEOA also amends TILA by adding limitations on certain practices by creditors, including limitations on "co-branding" their products with educational institutions in the marketing of private student loans. The proposal requires that creditors obtain a self-certification form signed by the consumer before consummating the loan. It also requires creditors with preferred lender arrangements with educational institutions to provide certain information to those institutions. TXT; PDF  3/24/09
May 4, 2009
  • NCUA Proposes Rulemaking for Operating Fees
    The NCUA proposes to amend its rule on the assessment of the federal credit union (FCU) operating fee to exclude investments made under the Credit Union System Investment Program (CU SIP) and the Credit Union Homeowners Affordability Relief Program (CU HARP) from the calculation of total assets; total assets is the basis on which the operating fee is currently calculated. The Board believes this amendment will remove a disincentive for some FCUs from participating in the CU SIP or the CU HARP. TXT; PDF  3/5/09

    April 9, 2009
  • HUD Publishes Interim Rule in FR for the Real Estate Settlement Procedures Act
    This rule simplifies and improves the process of obtaining mortgages and reduces consumer settlement costs; it also further defers the applicability date for the revied definition of "required use" and solicitation of public comment on the withdrawal of the Required Use Provision. TXT; PDF  3/9/09

    April 97, 2009
  • FDIC Publishes Interim Rule in FR for Amendment of the Temporary Liquidity Guarantee Program to Extend the Debt Guarantee Program
    The FDIC is issuing this Interim Rule to amend the Temporary Liquidity Guarantee Program (TLGP) by providing a limited extension of the Debt Guarantee Program (DGP) for insured depository institutions (IDIs) participating in the DGP. This rule imposes surcharges on certain debt issued on or after April 1, 2009. Any surcharge collected will be deposited into the Deposit Insurance Fund (DIF or Fund). It also establishes an application process whereby entities participating in the extended DGP may apply to issue non-FDIC-guaranteed debt during the extension period. TXT; PDF  3/23/09

    April 6, 2009
  • NCUA Proposes Rulemaking for Corporate Credit Unions
    In the light of current economic circumstances affecting the U.S. economy and, in particular, the financial sector, NCUA is evaluating and reconsidering the role corporate credit unions currently play in the credit union system, including corporates' membership structure, size, and types of services they offer. NCUA is also considering whether to amend its regulation governing corporate credit unions to clarify or revise current provisions, including those related to: capital; permissible investments; management of credit risk and liquidity; and corporate governance.TXT; PDF  2/4/09

    April 6, 2009
  • FDIC Proposes Rulemaking for Interest Rate Restrictions on Institutions that are Less Than Well–Capitalized
    The FDIC is proposing to amend its regulations relating to the interest rate restrictions that apply to insured depository institutions that are not well capitalized. Under the proposed rule, such insured depository institutions generally would be permitted to offer the "national rate" plus 75 basis points. The purpose of this proposed rule is to clarify the interest rate restrictions for certain insured depository institutions and examiners. TXT; PDF  2/3/09

    April 2, 2009
  • FDIC Publishes Interim Rule in FR for Assessments
    The FDIC is adopting an interim rule to impose a 20 basis point emergency special assessment under 12 U.S.C. 1817(b)(5) on June 30, 2009. The assessment will be collected on September 30, 2009. The interim rule also provides that, after June 30, 2009, if the reserve ratio of the Deposit Insurance Fund is estimated to fall to a level that the Board believes would adversely affect public confidence or to a level which shall be close to zero or negative at the end of a calendar quarter, an emergency special assessment of up to 10 basis points may be imposed by a vote of the Board on all insured depository institutions based on each institution's assessment base calculated pursuant to 12 CFR 327.5 for the corresponding assessment period. TXT; PDF   2/03/09

    March 30, 2009
  • Joint Agencies Propose Rulemaking for Electronic Fund Transfers
    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 proposal would limit the ability of a financial institution to assess an overdraft fee for paying automated teller machine (ATM) withdrawals and one-time debit card transactions that overdraw a consumer's account, unless the consumer is given notice of the right to opt out of the payment of such overdrafts, and the consumer does not opt out.  TXT; PDF  1/29/09

    March 23, 2009
  • The Treasury Publishes Interim Rule in FR for TARP Conflicts of Interest
    This interim rule provides guidance on conflicts of interest pursuant to section 108 of the Emergency Economic Stabilization Act of 2008 (EESA), which was enacted on October 3, 2008. TXT  PDF  1/21/09

    March 9, 2009
  • The Treasury Proposes Rulelmaking for the Transfer and Reorganization of Bank Secrecy Act Regulations
    FinCEN proposes to move Bank Secrecy Act (BSA) regulations to a new chapter in the Code of Federal Regulations (CFR). The new chapter would contain the BSA regulations, which would generally be reorganized by financial industry. This new organization within the new chapter also allows for the renumbering of the BSA regulations in a manner that would make it easier to find regulatory requirements than under the numbering system currently used in the existing regulations. TXT; PDF  11/07/08

    March 2, 2009
  • FRB Proposes Rulemaking for Reserve Requirements of Depository Institutions
    The Board is requesting public comment on proposed amendments to Regulation D, Reserve Requirements of Depository Institutions, to authorize the establishment of limited-purpose accounts at Federal Reserve Banks for the maintenance of excess balances of eligible institutions (both as defined in Regulation D). EBAs; TXT; PDF  1/30/09

    February 9, 2009
  • FRB Proposes Rulemaking for Regulation Z; Truth in Lending (Technical Amendment)
    On December 10, 2008, the Board published a proposal to amend Regulation Z that would conform the regulation to reflect recent amendments to the Truth in Lending Act (73 FR 74989). The Board is extending the public comment period on the proposal. TXT; PDF  12/19/08

    January 23, 2009
  • FRB Proposes Rulemaking for Truth in Lending (Reg Z)
    On July 30, 2008, the Board published a final rule amending Regulation Z, which implements the Truth in Lending Act (TILA) and the Home Ownership and Equity Protection Act (HOEPA). Also on July 30, 2008, the Congress enacted the Housing and Economic Recovery Act of 2008, which included amendments to TILA, known as the Mortgage Disclosure Improvement Act of 2008 (MDIA). On October 3, 2008, the Congress amended the MDIA in connection with its enactment of the Emergency Economic Stabilization Act of 2008 ("Stabilization Act"). The Board is now proposing revisions to Regulation Z to implement the provisions of the MDIA, as amended. TXT; PDF  12/10/08

    January 26, 2009
  • NCUA Publishes Proposes Rulemaking for Agency Information Collection Activities; Proposals, Submissions, and Approvals
    The NCUA is submitting the following information collection to the Office of Management and Budget (OMB) for review and clearance under the Paperwork Reduction Act of 1995, Pub. L. 104-13, 44 U.S.C. Chapter 35. TXT; PDF  11/26/08

    December 22, 2008
  • The NCUA Publishes Interim Final Rule in FR for Display of Official Sign; Temporary Increase in Standard Maximum Share Insurance Amount; Coverage for Custodial Loan Accounts
    NCUA is amending its share insurance rules to reflect Congress's recent action to increase temporarily the standard maximum share insurance amount (SMSIA) from $100,000 to $250,000 and increase coverage for custodial loan accounts. NCUA also is providing insured credit unions with additional options for displaying NCUA's official sign. TXT; PDF  10/22/08

    December 16, 2008
  • The FDIC Publishes Interim Rule in FR for Deposit Insurance Regulations; Temporary Increase in Standard Coverage Amount; Mortgage Servicing Accounts
    The FDIC is adopting an interim rule to amend its deposit insurance regulations to reflect Congress's recent action to temporarily increase the standard deposit insurance amount from $100,000 to $250,000 and to simplify the deposit insurance rules for funds maintained in mortgage servicing accounts.TXT; PDF  10/17/08

    December 17, 2008
  • FDIC Proposes Rulemaking for Assessments
    On October 7, 2008, the Federal Deposit Insurance Corporation (FDIC) issued a notice of proposed rulemaking with request for comments on revisions to 12 CFR part 327 (see 73 FR 61560). The rulemaking proposed effective January 1, 2009, to raise the current assessment rates uniformly by seven basis points for the first quarter 2009 assessment period only; effective April 1, 2009, alter the way in which the FDIC's risk-based assessment system differentiates for risk and again change deposit insurance assessment rates; and also effective April 1, 2009, make technical and other changes to the rules governing the risk-based assessment system. The proposed rules were published for a 30-day comment period, which is scheduled to close on November 17, 2008. In order to afford interested parties additional time beyond the present 30-day comment period to review the proposals with an April 1, 2009 effective date, the FDIC is extending the period for public comment by 30 days, that is, until December 17, 2008.TXT; PDF  11/14/08

    December 15, 2008
  • NCUA Publishes Interim Final Rule in FR for Share Insurance for Revocable Trust Accounts
    NCUA is amending its share insurance rules to simplify coverage for revocable trust accounts. The amendments will make the rules easier to understand and apply without decreasing coverage, result in faster share insurance determinations in the event of a credit union closing, and help improve public confidence in the credit union system. The amendments eliminate the concept of "qualifying beneficiaries." Also, for members with revocable trust accounts totaling no more than $500,000, coverage will be determined without regard to the proportional beneficial interest of each beneficiary in the trust. Under the amended rules, a trust account owner with up to five different beneficiaries named in all of his or her revocable trust accounts at one NCUA-insured institution will be insured up to $100,000 per beneficiary. Revocable trust account owners with more than $500,000 and more than five different beneficiaries named in the trust(s) will be insured for the greater of either: $500,000 or the aggregate amount of all the beneficiaries' interests in the trust(s), limited to $100,000 per beneficiary.TXT; PDF  10/14/08

    December 1, 2008
  • The NCUA Proposes Rulemaking for Regulatory Flexibility Regarding Ownership of Fixed Assets
    NCUA proposes to amend its Regulatory Flexibility (RegFlex) Program to provide additional flexibility to qualifying federal credit unions (FCUs) when acquiring unimproved land for future expansion. The proposed amendment would increase the three years to six years for RegFlex FCUs without a waiver. NCUA also proposes to make conforming amendments to its fixed asset rule to be consistent with the RegFlex changes.TXT; PDF  10/01/08

    December 1, 2008
  • FDIC Publishes Interim Final Rule in FR for Deposit Insurance Regulations and Revocable Trust Accounts
    The FDIC is adopting an interim rule to simplify and modernize its deposit insurance rules for revocable trust accounts. The FDIC's main goal in implementing these revisions is to make the rules easier to understand and apply, without decreasing coverage currently available for revocable trust account owners. The FDIC believes that the interim rule will result in faster deposit insurance determinations after depository institution closings and will help improve public confidence in the banking system. The interim rule eliminates the concept of qualifying beneficiaries. Also, for account owners with revocable trust accounts totaling no more than $500,000, coverage will be determined without regard to the beneficial interest of each beneficiary in the trust.TXT; PDF  9/30/08

    November 26, 2008
  • Joint Agencies Propose Rulemaking for Minimum Capital Ratios; Treatment of Certain Claims on, or Guaranteed by, Fannie Mae and Freddie Mac
    On September 7, 2008, the U.S. Department of Treasury (Treasury) entered into senior preferred stock purchase agreements (the Agreement or Agreements) with the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac), which effectively provide protection to the holders of senior debt, subordinated debt, and mortgage-backed securities (MBS) issued or guaranteed by these entities. In light of the financial support provided under the Agreements, 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) are proposing to adopt a 10 percent risk weight for claims on, and the portion of claims guaranteed by, Fannie Mae or Freddie Mac. The 10 percent risk weight would apply so long as an Agreement remains in effect with the respective entity.  PDF  Text   10/27/08

    November 21, 2008
  • The NCUA Proposes Rulemaking in FR for Accuracy of Advertising and Notice of Insured Status
    Section 740.4 of NCUA's rules requires that a federally insured credit union continuously display the official NCUA sign at every teller station or window where insured funds or deposits are normally received. Section 740.4(c) requires that tellers accepting share deposits for both federally insured credit unions and nonfederally insured credit unions also post a second sign adjacent to the official NCUA sign. Currently, the rules require this second sign to list each federally insured credit union served by the teller along with a statement that only these credit unions are federally insured. TXT; PDF  10/22/08

    November 21, 2008
  • The FRB Publishes Interim Final Rule in FR for Capital Adequacy Guidelines
    This rule specifically permits bank holding companies that issue new senior perpetual preferred stock to the Treasury under the capital purchase program announced by the Secretary of the Treasury on October 14, 2008, to include such capital instruments in Tier 1 capital for purposes of the Board's risk-based and leverage capital rules and guidelines for bank holding companies. TXT; PDF  10/22/08

    November 21, 2008
  • FRB Publishes Final Rule in FR for Rules of Practice for Hearings
    The Board of Governors of the Federal Reserve System (the Board) is amending its rules of practice and procedure to adjust the maximum amount, as set by statute, of each civil money penalty (CMP) within its jurisdiction to account for inflation. This action is required under the Federal Civil Penalties Inflation Adjustment Act of 1990, as amended by the Debt Collection Improvement Act of 1996.TXT; PDF 
    10/09/08

    November 17, 2008
  • The FRB Publishes Interim Final Rule in FR for Reserve Requirements of Depository Institutions
    The Board is revising its interim final rule amending Regulation D, Reserve Requirements of Depository Institutions, to alter the formula by which earnings on required reserve balances and on excess balances of eligible institutions are calculated. The remainder of the interim final rule, including the period during which comments may be submitted, is unchanged from the interim final rule as published on October 9, 2008. TXT; PDF Effective: The amendments to Regulation D are effective on November 17, 2008. The rate changes for earnings on required reserve balances and on excess balances are applicable beginning on November 6, 2008.

    November 17, 2008
  • The FDIC Proposes Rulemaking for Assessments
    The FDIC is proposing to amend 12 CFR part 327 to: alter the way in which it differentiates for risk in the risk-based assessment system; revise deposit insurance assessment rates, including base assessment rates; and make technical and other changes to the rules governing the risk-based assessment system. TXT; PDF  10/16/08

    November 13, 2008
  • The FDIC Publishes Rule in FR for Temporary Liquidity Guarantee Program
    The FDIC is amending its Interim Rule with Request for Comment (Interim Rule) relating to implementation of its Temporary Liquidity Guarantee Program (TLG Program) by extending the opt out date for eligible entities until December 5, 2008; extending the deadline for complying with certain disclosure requirements related to the TLG Program until December 19, 2008; and establishing assessment procedures to accommodate the extended opt out period. TXT; PDF Effective: The Amended Interim Rule becomes effective on November 4, 2008. The effective date of Sec. 370.5 paragraphs (h)(2) and (h)(3), added at 73 FR 64186, October 29, 2008, is delayed from December 1, 2008 until December 19, 2008. The FDIC seeks general and specific comments relating to questions raised in both the Amended Interim Rule and the Interim Rule. Comments regarding both the Amended Interim Rule and the Interim Rule must be received by November 13, 2008.

    November 13, 2008
  • The FDIC Publishes Interim Rule in FR for Temporary Liquidity Guarantee Program
    The FDIC is issuing this Interim Rule following a determination of systemic risk pursuant to section 13(c)(4)(G) of the Federal Deposit Insurance Act. As a result of this systemic risk determination, and in an effort to avoid or mitigate serious adverse effects on economic conditions or financial stability, the FDIC is establishing the Temporary Liquidity Guarantee Program. This program has two primary components: the Debt Guarantee Program, by which the FDIC will guarantee the payment of certain newly-issued senior unsecured debt, and the Transaction Account Guarantee Program, by which the FDIC will guarantee certain noninterest-bearing transaction accounts.PDF  Text  10/29/08

    November 12, 2008
  • The FRB Proposes Rulemaking for Missing comments submitted through the Federal Rulemaking Portal
    Because of a software problem at the Federal eRulemaking Portal (http://www.regulations.gov), the Board did not receive certain public comments submitted through that portal. This problem affected comments on four of the Board's proposed rules [Docket Nos. R-1286; R- 1314, R-1315; and R-1316] that were submitted only through the Federal eRulemaking Portal between March 22, 2008, and September 8, 2008. A total of 83 comments on the four proposals were not relayed to the Board. As set forth below, the Board will accept resubmission of those comments that were not received.  PDF  Text  10/27/08

    October 31, 2008
  • OCC Publishes Interim Final Rule in FR for Risk-Based Capital Guidelines--Money Market Mutual Funds
    To reduce liquidity and other strains being experienced by money market mutual funds, the Board of Governors of the Federal Reserve System adopted on September 19, 2008, a special lending facility that enables depository institutions and bank holding companies to borrow from the Federal Reserve Bank of Boston on a nonrecourse basis if they use the proceeds of the loan to purchase certain types of asset-backed commercial paper (ABCP) from money market mutual funds. TXT; PDF  9/26/08

    October 31, 2008
  • FRB Publishes Interim Final Rule in FR for Risk-Based Capital Guidelines; Leverage Capital Guidelines
    To reduce liquidity and other strains being experienced by money market mutual funds, the Federal Reserve System adopted on September 19, 2008, a special lending facility (ABCP Lending Facility) that enables depository institutions and bank holding companies to borrow from the Federal Reserve Bank of Boston on a nonrecourse basis if they use the proceeds of the loan to purchase certain types of asset-backed commercial paper (ABCP) from money market mutual funds. TXT; PDF  9/26/08

    October 31, 2008
  • FRB Publishes Interim Final Rule in FR for Transactions Between Member Banks and Their Affiliates
    To reduce liquidity and other strains being experienced by money market mutual funds, the Federal Reserve System adopted on September 19, 2008, a special lending facility that enables depository institutions and bank holding companies to borrow from the Federal Reserve Bank of Boston on a non-recourse basis if they use the proceeds of the loan to purchase certain types of asset-backed commercial paper (ABCP) from money market mutual funds (ABCP Lending Facility). TXT; PDF  9/26/08

    October 20, 2008
  • Joint Agencies Propose Rulemaking for Minimum Capital Ratios
    The Office of the Comptroller of the Currency (OCC), the Board of Governors of the Federal Reserve System (Board), the Federal Deposit Insurance Corporation (FDIC), and the Office of Thrift Supervision (OTS) (collectively, the Agencies) are proposing to permit banks, bank holding companies, and savings associations (collectively, banking organizations) to reduce the amount of goodwill that a banking organization must deduct from tier 1 capital by the amount of any deferred tax liability associated with that goodwill, and would reflect a banking organization's maximum exposure to loss in the event that such goodwill is impaired or derecognized for financial reporting purposes.TXT; PDF  9/30/08

    September 29, 2008
  • 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. Text  PDF  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. Text  PDF  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. Text  PDF  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. Text  PDF  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. Text  PDF  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 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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