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Top Stories
Comment Deadline
Recently Finalized Rules
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Recently Finalized Rules
Effective Dates in 2009
- The FRB Publishes Technical Amendment to Final Rule
The Board of Governors (Board) is amending appendix A of Regulation CC to delete the reference to the Cincinnati branch office of the Federal Reserve Bank of Cleveland and to reassign the Federal Reserve routing symbols currently listed under that office to the head office of the Federal Reserve Bank of Cleveland. These amendments reflect the restructuring of check-processing operations within the Federal Reserve System. Text;
PDF Effective: 1/09/09
Recently Finalized Rules
Effective Dates in 2008
- OCC Publishes Interim Final Rule in FR for Community Development Projects
On July 30, 2008, the President signed into law the Housing and Economic Recovery Act of 2008 (HERA). Section 2503 of the HERA revises the community development investment authority in 12 U.S.C. 24(Eleventh) to permit a national bank to make a broader range of investments designed primarily to promote the public welfare. This interim final rule implements the changes made to section 24(Eleventh)
by the HERA.Text;
PDF Effective: 8/11/08, with comments due: 9/11/08
- FRB Publishes Final Rule in FR for Truth in Lending
The Board is publishing a final rule amending the staff commentary that interprets the requirements of Regulation Z (Truth in Lending). The Board is required to adjust annually the dollar amount that triggers requirements for certain home mortgage loans bearing fees above a certain amount. In keeping with the statute, the Board has annually adjusted the $400 amount based on the annual percentage change reflected in the Consumer Price Index that is in effect on June 1. Text;
PDF Effective: 1/09/09
- FDIC Publishes Final Rule in FR for Fair Housing and Nondiscrimination on the Basis of Disability
The FDIC is amending two regulations, following a recent review, to update FDIC addresses contained in the regulations. First, the FDIC is updating the division name and address information in the Equal Housing Lender poster set forth in its fair housing regulation. Second, the FDIC is updating the address and telephone contact
information for the FDIC's Office of Diversity and Economic Opportunity (ODEO) set forth in its regulation on nondiscrimination on the basis of disability. Text;
PDF Effective: 8/07/08
- Joint Agencies Publish Final Rule in FR for Supervisory Guidance related to the Implementation of the Basel II Advanced Capital Framework
The agencies are publishing guidance regarding the supervisory review process for capital adequacy (Pillar 2) provided in the Basel II advanced approaches final rule, which was published in the Federal Register on December 7, 2007 (advanced approaches final rule), which outlines the agencies' standards for satisfying the qualification requirements
provided in the advanced approaches final rule. Text;
PDF Effective: 7/31/08, Comments on the Paperwork Reduction Act portion of this document may be submitted on or before September 2, 2008.
- FRB Publishes Final Rule in FR for Truth in Lending
The Board is publishing final rules amending 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 transaction-specific disclosures early enough to use while shopping for a mortgage. Text;
PDF Effective: This final rule is effective on October 1, 2009, except for Sec. 226.35(b) (3)) which is effective on April 1, 2010. See part XIII, regarding mandatory compliance with Sec. 226.35 (b) (3) on mortgages secured by manufactured housing.
- FRB Publishes Tecnical Amendments to Final Rule
The Board of Governors (Board) is amending appendix A of Regulation CC to delete the reference to the Windsor Locks office of the Federal Reserve Bank of Boston and to reassign the Federal Reserve routing symbols currently listed under that office to the head office of the Federal Reserve Bank of Philadelphia. These amendments reflect
the restructuring of check-processing operations within the Federal Reserve System.Text;
PDFEffective: October 1, 2009, except for Sec. 226.35(b)(3)) which is effective on April 1, 2010. See part XIII, below, regarding mandatory compliance with Sec. 226.35(b)(3) on mortgages secured by manufactured housing.
- FDIC Publishes Final Rule in FR for Large-Bank Deposit Insurance Determination Modernization
The FDIC is adopting a final rule requiring 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 other customer information; and allow the placement and release of holds on liability accounts, including deposits. It applies only to insured depository institutions having at least $2 billion in domestic deposits and either: more than 250,000 deposit accounts (currently estimated to be 152 institutions); or total
assets over $20 billion, regardless of the number of deposit accounts (currently estimated to be 7 institutions).Text;
PDFEffective: ;8/18/08
- FDIC Publishes Interim Rule in FR for Processing of Deposit Accounts in the Event of an Insured Depository Institution Failure
The FDIC is adopting an interim rule establishing the FDIC's practices for determining deposit and other liability account balances at a failed insured depository institution. Except as noted, the FDIC practices defined in the interim rule represent a continuation of long-standing FDIC procedures in processing such balances at a failed depository institution. The FDIC is adopting the interim rule concurrently with its adoption of a related final rule requiring 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 other customer information; and allow the placement and release of holds on liability accounts, including deposits. This interim rule applies to all insured depository institutions.Text;
PDF This interim rule is effective August 18, 2008, except for Sec. 360.8(e), which will be effective July 1, 2009. Written comments must be received by the FDIC on or before September 15, 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
- FRB Publishes Technical Amendments to Final Rule for Reg B
The Board is publishing amendments to Regulation B (Equal Credit Opportunity Act) to update the address where questions should be directed concerning creditors for which the Federal Reserve System administers compliance with the regulation.Text;
PDF Published: 6/13/08
- OTS Publishes Final Rule for Prohibited Service at Savings and Loan Holding Companies
OTS is revising its rules implementing section 19(e) of the Federal Deposit Insurance Act (FDIA), which prohibits any person who has been convicted of any criminal offense involving dishonesty, breach of trust, or money laundering (or who 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). Effective: 5/29/08 Text;
PDF Published: 5/29/08
- NCUA Publishes Technical Amendments in Federal Register
NCUA is amending a number of its regulations by making minor
technical corrections and grammatical changes. The amendments delete
duplicate words, add proper punctuations, and make other grammatically
necessary corrections. The amendments are intended to provide helpful
changes to NCUA's regulations. Effective: 5/28/08 Text;
PDF Published: 5/28/08
- FRB Publishes Technical Amendment to Final Rule for Availability of Funds and Collection of Checks
The Board of Governors (Board) is amending appendix A of Regulation CC to delete the reference to the Memphis branch office of the Federal Reserve Bank of St. Louis and
reassign the Federal Reserve routing symbols currently listed under that office to the head office of the Federal Reserve Bank of Atlanta. Effective: 7/19/08 Text;
PDF Published: 5/18/08
- Final Rule for Extensions of Credit by Federal Reserve Banks
The Board of Governors of the Federal Reserve System (Board) has adopted final amendments to its Regulation A to reflect the Board's approval of a decrease in the primary credit rate at each Federal Reserve Bank. The secondary credit rate at each
Reserve Bank automatically decreased by formula as a result of the Board's primary credit rate action. The amendments to part 201 (Regulation A) are effective May 7, 2008. The rate changes for primary and secondary credit were effective on the
dates specified in 12 CFR 201.51, as amended. Text;
PDF Published: May 7, 2008
- OCC Publishes Reg Review Amendments
The Office of the Comptroller of the Currency (OCC) is
revising its rules "in order to reduce unnecessary regulatory burden,
update certain rules, and make certain technical, clarifying, and
conforming changes to its regulations. These revisions result from the
OCC's most recent review of its regulations to ensure that they
effectively advance our mission to promote the safety and soundness of
the national banking system, ensure that national banks can compete
efficiently in the financial services marketplace, and foster fairness
and integrity in national banks' dealings with their customers, without
imposing regulatory burden unnecessary to the achievement of those
objectives." The rules changes affect OCC regulations at 12 CFR Parts 1, 2, 3, 4, 5, 7, 9, 10, 11, 12, 16, 19, 21, 22, 23,
24, 26, 27, 28, 31, 32, 34, 37, and 40, with an effective date of 7/1/2008.
Text;
PDF Published: 4/24/08
- FRB Publishes Technical Amendment to Final Rule for Definitions of Terms and Exemptions Relating to the "Broker" Exceptions for Banks
The Board and the Securities andExchange Commission jointly are adopting technical amendments to Regulation R, which the Agencies jointly adopted in September 2007. Regulation R implements certain of the exceptions for banks from the definition of the term "broker" in section 3(a)(4) of the Securities Exchange Act of 1934 ("Exchange Act"), as amended by the Gramm-Leach-Bliley Act ("GLBA"). TXT; PDF Published: 4/17/08
- FRB Publishes Final Rule in FR for Equal Opportunity
The Board of Governors of the Federal Reserve System has adopted a final rule that amends the section of its Rules Regarding Equal Opportunity (EEO Rules) which governs the employment of persons who are not United States citizens consistent with the Board's requirements for the security of its information.TXT; PDF Published: 4/02/08
- FRB Publishes Final Rule in FR for Extension of CRedit by Federal Reserve Banks
The Board of Governors of the Federal Reserve System (Board) has adopted final amendments to its Regulation A to reflect the Board's approval of a reduction in the primary credit rate at each Federal Reserve Bank. The secondary credit rate at each
Reserve Bank automatically decreased by formula as a result of the Board's primary credit rate action.TXT; PDF Published: 3/26/08
- 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; PDFPublished: 3/20/08
- OCC Publishes Final Rule in FR for Securities Offering Disclosure Rules
The Office of the Comptroller of the Currency (OCC) is amending its securities offering disclosure rules to eliminate the general requirement that a national bank in organization include audited financial statements as part of a public offering of its securities. TXT; PDF Published: 3/06/08
- NUA Publishes Final Rule in FR for Procedures for Debt Collection
Pursuant to the Debt Collection Improvement Act of 1996 NCUA is issuing a regulation governing procedures for collecting debts owed to the federal government by present and
former NCUA employees. The regulation sets forth the procedures NCUA will follow in collecting debts owed to the United States arising from activities under NCUA jurisdiction.TXT; PDF Published: 3/03/08
- FRB Publishes Technical Amendment to Final Rule for Availability of Funds and Collection of Checks
The Board of Governors (Board) is amending appendix A of Regulation CC to delete the reference to the head office of the Federal Reserve Bank of Kansas City and reassign the
Federal Reserve routing symbols currently listed under that office to the head office of the Federal Reserve Bank of Dallas, and is amending appendix B of Regulation CC to delete the reference to the Kansas City head office. TXT; PDF Effective: 4/19/08
- OTS Publishes Final Rule in FR for Prohibited Service at Savings and Loan Holding Companies
The OTS is revising its rules implementing section 19(e) of the Federal Deposit Insurance Act (FDIA), which prohibits any person who has been convicted of any criminal offense
involving dishonesty, breach of trust, or money laundering (or who 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). It is extending the expiration date of a temporary exemption granted to persons who held positions with respect to a SLHC as of the date of the enactment of section
19(e). The revised expiration date for the temporary exemption is June 1, 2008. TXT; PDF Effective: 2/29/08
- OCC Publishes Interim Final Rule for Assessment of Fees
The Office of the Comptroller of the Currency (OCC) is amending its assessment regulation to add two new asset-size categories to the table in 12 CFR 8.2(a) used to calculate each
national bank’s semiannual assessment. The addition of these categories is warranted to take account of significant structural changes in the national banking system since 1992, when the table was last revised, and will enable the OCC to realign our assessments to
better reflect industry structure and OCC’s corresponding expenses of operations. TXT; PDF Effective: 2/19/08
- FRB Publishes Final Rule for Extensions of Credit by Federal Reserve Banks
The Board of Governors of the Federal Reserve System (Board) has adopted final amendments to its Regulation A to reflect the Board's approval of a decrease in the primary credit rate at each Federal Reserve Bank. The secondary credit rate at each Reserve Bank automatically decreased by formula as a result of the Board's primary credit rate action. TXT; PDF Effective: The amendments to part 201 (Regulation A) are effective February 7, 2008. The rate changes for primary and secondary credit were effective on the dates specified in 12 CFR 201.51, as amended.
- FRB Publishes Final Rule for Extensions of Credit by Federal Rserve Banks
The Board of Governors of the Federal Reserve System (Board) has adopted final amendments to its Regulation A to reflect the Board's approval of a decrease in the primary credit rate at each Federal Reserve Bank. The secondary credit rate at each
Reserve Bank automatically decreased by formula as a result of the Board's primary credit rate action.TXT; PDF Effective: The amendments to part 201 (Regulation A) are effective January 31,
2008. The rate changes for primary and secondary credit were effective on the
dates specified in 12 CFR 201.51, as amended.
- Permissible Activities of Savings and Loan Holding Companies
The Office of Thrift Supervision (OTS) is revising its regulations, at 12 CFR 584.2 and 584.2-2, to expand the permissible activities of savings and loan holding companies (SLHCs) to the full extent permitted under the Home Owners' Loan Act (HOLA). In addition, OTS is amending 12 CFR 584.4 to conform the regulation to the statute that it is intended to implement, and to set forth standards that OTS will use to evaluate applications submitted pursuant to the statutory
application requirement.TXT; PDF Effective: 4/01/08
- FRB Publishes Technical Amendments to Final Rule for Availability of Funds and Collection of Checks
The Board of Governors (Board) is amending appendix A of Regulation CC to delete the reference to the Utica office of the Federal Reserve Bank of New York and reassign the
Federal Reserve routing symbols currently listed under that office to the head office of the Federal Reserve Bank of Cleveland and the head office of the Federal Reserve Bank of Philadelphia.TXT; PDFEffective dates: The amendments to appendix A under the Second and Fourth Federal Reserve Districts (Federal Reserve Banks of New York and Cleveland) that revise the listings for the Utica office and the Cleveland head office are effective February 23, 2008. The amendment to appendix A under the Third Federal Reserve District (Federal Reserve Bank of Philadelphia)
is effective March 29, 2008. The removal of the second Federal Reserve District (Federal Reserve Bank of New York) is effective March 29, 2008. The revision of appendix B is
effective March 29, 2008.
- FDIC Publishes Final Interim Rule in FR for Deposit Insurance Requirements
The FDIC is amending certain regulations in order to conform them to certain Federal statutes recently amended by the Financial Services Regulatory Relief Act of 2006, the Federal Deposit Insurance Reform Act of 2005, and the Federal Deposit Insurance Reform Conforming Amendments Act of 2005. TXT; PDF Effective: 1/14/08, with Comments due: 3/14/08
- OTS Publishes Technical Amendments
The Office of Thrift
Supervision (OTS) is amending its regulations to incorporate a number of technical and conforming amendments. They include clarifications and corrections of typographical errors.TXT; PDF Effective: 1/02/08
- Final guidance--Savings and Loan Holding Company Rating System
The Office of Thrift Supervision (OTS) is revising its savings and loan holding company (SLHC) rating system to better reflect and communicate its supervisory expectations. The new SLHC rating system revises component descriptions to better emphasize risk management and adopts a numeric rating scale.TXT; PDF Effective: 1/01/08
- FRB Publishes Technical Amendment to Final Rule for Equal Credit 0pportunity
The Board is revising the official staff commentary to Regulation B, which implements the Equal Credit Opportunity Act, to clarify an amendment published on November 9, 2007, which relates to the electronic delivery of disclosures under Regulation B.TXT; PDF Effective: 1/14/08, with mandatory compliance 10/01/08
- FRB Publishes Technical Amendment to Final Rule for Truth in Lending
The Board is revising the official staff commentary to Regulation Z, which implements the Truth in Lending Act, to clarify an amendment published on November 9, 2007, relating to the electronic delivery of disclosures under Regulation Z.TXT; PDF Effective: 1/14/08, with mandatory compliance 10/01/08
- Joint Agencies Publish Final Rule in FR for Fair Credit Reporting Affiliate Marketing Regulation
The OCC, Board, FDIC, OTS, and NCUA (Agencies) are publishing final rules to implement the affiliate
marketing provisions in section 214 of the Fair and Accurate Credit Transactions Act of 2003, which
amends the Fair Credit Reporting Act. The final rules generally prohibit a person from using information received from an affiliate to make a solicitation for marketing purposes to a consumer, unless the consumer is given notice and a reasonable opportunity and a reasonable and simple method to opt out of the making of such solicitations. TXT; PDF Effective: 1/01/08
- FRB Publishes Final Rule in FR for Truth in Lending (Reg Z)
The Board is publishing a final rule amending the staff commentary that interprets the requirements of Regulation Z (Truth in Lending). The Board is required to adjust annually the dollar amount that triggers requirements for certain home mortgage loans bearing fees above a certain amount. In keeping with the
statute, the Board has annually adjusted the $400 amount based on the annual percentage change reflected in the Consumer Price Index that is in effect on June 1. The adjusted dollar amount for 2008 is $561. TXT; PDF Effective: 1/01/08
Recently Finalized Rules
Effective Dates in 2007
- NCUA Publishes Final Rule in FR for the Purchase, Sale, and Pledge of Eligible
Obligations
NCUA is amending its rule governing the purchase, sale, and pledge of eligible obligations by adding a conflict of interest provision substantially similar to the conflict of interest provision in NCUA's general lending rule.TXT; PDF Effective: 12/21/07
- FRB Publishes Final Rule in FR for Extensions of Credit by Federal Reserve Banks
The Board of Governors of the Federal Reserve System (Board) has adopted final amendments to its Regulation A to reflect the Board's approval of a decrease in the primary
credit rate at each Federal Reserve Bank. The secondary credit rate at each Reserve Bank automatically decreased by formula as a result of the Board's primary credit rate action.TXT; PDF Effective: 12/19/07
- FRB Publishes Technical Amendment to Final Rule for Equal Credit Opportunity
The Board is revising the official staff commentary to Regulation B, which implements the Equal Credit Opportunity Act, to clarify an amendment published on November 9, 2007, which relates to the electronic delivery of disclosures under Regulation B.TXT; PDF Effective: 12/12/07
- FRB Passes Final Rule for Definitions of Terms and Exemptions Relating to the "Broker" Exceptions for Banks
The Board and the Commission jointly are adopting a single set of final rules that implement certain of the exceptions for banks from the definition of the term "broker"
under Section 3(a)(4) of the Securities Exchange Act of 1934 ("Exchange Act"), as amended by the Gramm-Leach-Bliley Act ("GLBA"). The rules define terms used in these statutory exceptions and
include certain related exemptions.TXT; PDFEffective: The addition of parts 12 CFR 218 and 17 CFR 247 is effective September 28, 2007. Regulations at 12 CFR 218.781 and 17 CFR 247.781 (collectively "Rule 781") are effective on September 28, 2007. Regulations at 12 CFR 218.100 through 218.780 and 17 CFR 247.100 through 247.780 are effective December 3, 2007.
Amendments affecting Part 240 of Title 17 are effective December 3, 2007. Compliance date: Banks are exempt from complying with the rules and the "broker"’ exceptions in Section 3(a)(4)(B) of the Exchange Act until the first day of their first fiscal year that commences after September 30, 2008.
- FDIC Publishes Final Rule in FR for Rules of Practice and Procedure
The Federal Deposit Insurance Corporation (FDIC) is amending its procedural regulations
implementing sections 8(g) and 8(b) of the Federal Deposit Insurance Act. The amendments are generally technical in nature, and are necessary to ensure that the rules are consistent with statutory changes effected by sections 708 and 702 of the Financial Services Regulatory
Relief Act of 2006.TXT; PDFEffective: 11/28/07
- New Logo for FDIC
The FDIC published a final rule in the FR today revising its regulation governing official FDIC signs and advertising of FDIC membership. The final rule replaces the separate signs used by Bank Insurance Fund
(BIF) and Savings Association Insurance Fund (SAIF) members with a new sign, or insurance logo, to be used by all insured depository institutions. TXT, PDF . Effective: 11/13/07
- NCUA Publishes Final Rule in FR for Member Inspection of Credit Union
Books, Records, and Minutes
The rule provides that a group of members representing approximately one percent of the membership, with a proper purpose and upon petition, may inspect and copy nonconfidential portions of the credit
union's books, records, and minutes. This rule standardizes and clarifies existing member inspection rights.TXT; PDF Effective: 11/02/07
- FRB Publishes Final Rule in FR for Unfair or Deceptive Acts or Practices (Reg AA)
The Board is publishing amendments to Regulation AA (Unfair or Deceptive Acts or Practices) to update the address where consumer complaints regarding a state member bank may be sent.TXT; PDF Effective: 10/29/07
- FRB Publishes final Rule in FR for Equal Credit Opportunity (Reg B)
The Board is publishing amendments to Regulation B (Equal Credit Opportunity Act) to update the
address where questions should be directed concerning creditors for which the Federal Reserve System administers compliance with the regulation. TXT; PDF Effective: 10/29/07
- Joint Agencies Publish Final Rule in FR for Expanded Examination Cycle for Certain Small Insured Depository Institutions, U.S. Branches and Agencies of Foreign Banks
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), Treasury are jointly adopting as final the interim rules issued on April 10, 2007, that implemented section 605 of the Financial Services Regulatory Relief Act of 2006 (FSRRA) and related legislation (collectively the Examination Amendments). These Amendments permit insured depository institutions that have up to $500 million in total assets, and that meet certain other criteria, to qualify for an 18-month onsite
examination cycle. TXT; PDF Effective: 10/25/07
- FRB Publishes Technical Amendment to Availability of Funds and Collection of Checks
The FRB is amending appendix A of Regulation CC to delete the reference to the Helena branch office of the Federal Reserve Bank of Minneapolis and reassign the Federal Reserve routing symbols currently listed under that office to the Denver branch office of the Federal Reserve Bank of Kansas City.TXT; PDF Effective: 10/20/07
- DoD Lending Rules Finalized
The Department of Defense has published final rules setting forth new requirements for loans to servicemembers and their dependents under the John Warner National Defense Authorization Act. The implementation date is October 1, 2007. While banks, thrifts and credit unions are not exempted from coverage by the new regulation, the impact on those entities will likely not be substantial because of the narrow scope of the final rules. For example, loans secured by an interest in a dwelling are exempt, as are open-end credit products. The three loan types that are covered under the new §232.3 include:
- payday loans, which are 91 days or less and do not exceed $2,000,
- vehicle title loans, which are 181 days or less and exclude purchase money loans, and
- tax refund anticipation loans.
TXT; PDF Effective: 10/01/07
- OTS Publishes Final Rule in Federal Register for Stock Benefit Plans in Mutual-to-Stock Conversions and Mutual Holding Company Structures
The Office of Thrift Supervision (OTS) is clarifying its regulations regarding stock benefit plans established after mutual-to-stock company structures, and modifying the voting requirements for the adoption of certain stock benefit plans in mutual holding company structures and several other minor
changes to the regulations governing mutual-to-stock conversions and minority stock issuances. TXT; PDFEffective: 10/01/07
- FRB Publishes Final Rule in FR for Extensions of Credit by Federal
Reserve Banks
The FRB has adopted final amendments to its Regulation A to reflect the Board’s
approval of a decrease in the primary credit rate at each Federal Reserve Bank.TXT; PDF Effective: 9/27/07
- OTS Publishes Final Rule for Prohibited Service at S&L Holding Companies Extension of Expiration Date of Temporary Exemption
OTS is amending its rules implementing section 19(e) of the Federal Deposit Insurance Act (FDIA), which prohibits any person who has been convicted of any criminal offense involving dishonesty, breach of trust, or money laundering (or who 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.TXT; PDF Effective: 9/04/07
- FRB Publishes Final Rule in FR for eExtensions of credit by Federal Reserve Banks (Regulation A):
The Board of Governors of the Federal Reserve System (Board) has adopted final amendments to its
Regulation A to reflect the Board's approval of a reduction in the primary credit rate at each Federal Reserve Bank. The secondary credit rate at each Reserve Bank automatically decreased by formula as a result of the Board's primary credit rate action.TXT; PDF Effective: 8/24/07
- FRB Publishes Technical Amendment to Final Rule for Reg CC
The Board of Governors is amending appendix A of Regulation CC to delete the reference to the head office of the Federal Reserve Bank of San Francisco and reassign the Federal Reserve routing symbols currently listed under that office to the Los Angeles branch office of the Federal Reserve Bank of San Francisco. TXT; PDFEffective: 8/18/07
- FRB Publishes Final Rule in FR for Loans to Executive Officers, Directors and Principal Shareholders in Member Banks
The Board is adopting amendments to the Board’s Regulation O to eliminate certain reporting requirements. These amendments implement section 601 of the Financial Services Regulatory Relief Act of 2006.TXT; PDFEffective: 7/02/07
- OTS publishes Correction to Community Reinvestment Act Rule—Interagency Uniformity
The OTS published a correction in the Federal Register for an inadvertent omission and incorrect
word in a final rule that appeared in the Federal Register of March 22, 2007 (72 FR 13429). That final rule reestablishes uniformity between OTS’s Community Reinvestment Act (CRA) regulations and
those of the other federal banking agencies. TXT; PDF Correction to this rule: TXT; PDF Effective 7/01/07
- FRB publishes Final Rule for Reg E in Federal Register
The Board is amending
Regulation E, which implements the Electronic Fund Transfer Act, and the official staff commentary to the
regulation. This final rule provides that Regulation E covers payroll card accounts that are established directly or indirectly through an employer, and to which transfers employee compensation are made on a recurring basis.TXT, PDF .Effective: 7/01/07
- 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; PDFEffective: 6/07/07
- 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; PDFEffective: 6/01/07
- NCUA Publishes Technical Amendments to Final Rule
NCUA is amending a number of its regulations by making minor technical corrections, clarifications and
grammatical changes. Among those is the addition of a cross-reference between two regulations addressing credit union borrowing authority; addition of a statement in the provision on insurance coverage for volunteer officials to note, etc. It is also removing certain regulatory references to NCUA’s FCU Bylaws that are no longer accurate due to revisions. TXT; PDF Effective: 5/31/07
- 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 Effective: 5/08/07
- FRB Publishes Final Rule in Federal Register for Reserve Requirements of Depository Institutions
The Board of Governors is revising its 1980 interpretation of Regulation D (Reserve Requirements of
Depository Institutions) setting forth criteria for the "bankers' bank" exemption from reserve requirements. The interpretation sets forth the standards that the Board uses in applying the statutory and regulatory requirements for the bankers' banks exemption to specific institutions. TXT; PDF Effective: 5/07/07
- Treasury publishes Final Rule to impose a speacial measure relative to the BSA
The Department of the Treasury Publishes Final Rule in FR to impose a special measure against the Banco Delta Asia SARL pursuant to the authority contained in 31 U.S.C. 5318A of the Bank Secrecy Act, including its subsidiaries, Delta Asia Credit Limited and Delta Asia Insurance Limited, as a Financial Institution of Primary Money Laundering Concern.TXT PDF Effective: 4/18/07
- 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; PDFEffective: 4/10/07
- NCUA Publishes Rule for Sharing Insurance Appeals and to Clarify Enforcement Authority of the NCUA
Board
The National Credit Union Administration (NCUA)publishes a final rule in the Federal Register to implement amendments to the Federal Credit Union Act (FCU Act) made by the Financial Services Regulatory Relief Act of 2006 (Reg Relief Act) enacted by Congress on October 13, 2006. This final rule amends NCUA's regulations to assure they are consistent with the statutory changes made by the Reg Relief Act and adopts the amendments as stated in the interim final rule issued in November 2006.TXT, PDF Effective: April 9, 2007
- OTS Publishes Final Rule in FR for Subordinated Debt Securities and Mandatorily Redeemable Preferred Stock
This final rule updates OTS regulations that require a savings association to obtain approval (or nonobjection) before it may include subordinated debt securities or mandatorily redeemable preferred stock in supplementary (tier 2) capital. It removes several unnecessary or outdated requirements and conforms certain provisions, such as maturity period requirements and purchaser
restrictions, to the rules issued by the other federal banking agencies.TXT, PDF . Effective: 4/01/07
- NCUA Publishes Final Rule in Federal Register for General Lending Maturity Limit and
Other Financial Services
NCUA is amending 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). The final rule revises the maturity limit in the general lending rule and permits federal credit unions to provide certain, limited financial services to nonmembers within their fields of membership.TXT, PDF . Effective: 3/26/07
- 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 Effective: 2/12/07
- Federal Reserve Publishes CFR Correction
The FRB has published a date correction to its rule for Availability of Funds and Collection of Checks, which was revised as of 1/01/06. TXT, PDF . Effective: 1/26/07
- NCUA Publishes Final Rule in FR for Conversion of Insured Credit Unions to
Mutual Savings Banks
NCUA is issuing final revisions to its rules regarding the conversion of insured credit unions to mutual savings banks or mutual savings associations. The final rule
includes revised disclosures, revised voting procedures, procedures to facilitate communications among
members, and procedures for members to provide their comments to directors before the credit union board votes on a conversion plan.TXT, PDF . Effective: 1/22/07
- FRB publishes Interim Final Rule for Reg E
The FRB is amending 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
amendments clarify requirements for collecting certain service fees and clarify notice requirements for
electronic check conversion transactions and for collecting insufficient funds fees electronically.TXT, PDF . Effective: 1/07/07
- HMDA Asset Size Exemption Published
The Federal Reserve Board has published in the Federal Register the 2007 asset-size exemption threshold increase for 2007. This action amends the staff commentary for Regulation C to adjust to $36 million the asset-size exemption threshold for coverage under HMDA. TXT, PDF .Effective: 1/1/07
- Annual CRA Asset-Size Threshold Adjustments Published in FR
As required by the 2005 CRA regulatory amendments, the federal bank regulatory agencies have announced the annual adjustment to the asset-size thresholds used to define "small bank" and "intermediate small bank". 71FR78335 txt 71FR78335 pdf Effective: 1/1/07
- FRB publishes 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. The final rule clarifies the requirement to obtain a consumer’s authorization to initiate an electronic fund transfer to the consumer’s account. TXT, PDF . Efective 1/01/07
- FDIC Publishes Final Rule in FR for Penalty for Failure to Timely Pay Assessments
The FDIC is adopting its final rule amending its regulations concerning penalties for failure to timely pay assessments. The statute generally provides that an insured depository institution which fails or
refuses to pay any assessment shall be subject to a penalty of not more than 1 percent of the assessment due for each day the violation continues. TXT, PDF . Effective: 1/01/07
- FDIC adopts Final Rule for Dividend Requirements
The FDIC published the Final Rule in the FR 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) for an initial two-year period.TXT, PDF . Effective: 1/01/07
- FRB publishes Final Rule in Federal Register to annually adjust dollar amount for Reg Z
The Board is publishing a final rule amending the staff commentary that interprets the requirements of Regulation Z (Truth in Lending). The Board is required to adjust annually the dollar amount that triggers requirements for certain home mortgage loans bearing fees above a certain amount.TXT, PDF . Effective: 1/01/07
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