Skip to content
GeoDataVision
Learn More - Click Here!

Thread Options
#626371 - 10/18/06 08:27 PM Reg E & Reg CC disclosures
Glendle Offline
New Poster
Joined: May 2006
Posts: 18
Can anyone tell me where in the regulation it states (or does it?) that the board actually has to approve these two disclosures / policies?

Return to Top
Operations Compliance
#626372 - 10/18/06 09:05 PM Re: Reg E & Reg CC disclosures
Elwood P. Dowd Offline
10K Club
Elwood P. Dowd
Joined: Aug 2001
Posts: 21,939
Next to Harvey
It doesn't. It's a s t r e t c h to call any preprinted disclosure a "policy."

Please expand a little, has someone suggested you need a Reg E and a Reg CC policy?
_________________________
In this world you must be oh so smart or oh so pleasant. Well, for years I was smart. I recommend pleasant.

Return to Top
#626373 - 10/18/06 10:20 PM Re: Reg E & Reg CC disclosures
Glendle Offline
New Poster
Joined: May 2006
Posts: 18
Not exactly - I thought the Reg CC had to be approved by the board, and when I went looking could not find anything specific. The subject started when changes to existing practices trigger revised disclosures - and which ones would need to be 'approved' by the board. Thanks for responding.

Return to Top
#626374 - 10/19/06 09:53 AM Re: Reg E & Reg CC disclosures
Elwood P. Dowd Offline
10K Club
Elwood P. Dowd
Joined: Aug 2001
Posts: 21,939
Next to Harvey
There is no legal requirement for board approval on policies related to any topic routinely considered as a consumer protection law. Any policies you may have on consumer protection laws fall under the heading of a "good idea," but, out of necessity they would be very broad.

Changing a disclosure in connection with Regulation E or CC would not necessitate board approval unless it was a self imposed restriction required by your policy. Personally, I've always considered asking the board to vote on things they will not understand as an upward delegation of responsibility.

Return to Top

Moderator:  Andy_Z, John Burnett