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Technology Regulations and Publications for Financial Institutions

Technology Regulations

The documents referenced below are grouped by topic.  Within each topic, they are listed in reverse chronological order (latest first).  Documents may be listed under more than one topic heading.  The hyperlink shows the format of the document, e.g. HTML, TEXT.  Files marked PDF are Portable Document Format files. Adobe Acrobat, a reader available for free on the Internet, is required to display or print PDF files. This site's PDF file size ranges from 8Kb to 474Kb with the average size of about 20 to 30Kb. You may also request a printed copy of the document.

 
Anti-TerrorismIdentity Theft
Authorized ActivitiesInformation Security
Bank Holding CompanyInformation Sharing
Change in ControlMoney Laundering
Customer Information SafeguardsNondeposit Investment Products
Electronic Banking (on-line delivery of financial services)Privacy
Electronic DisclosuresRisk Management
Electronic Funds TransferSuspicious Activity Reports
Equal Credit OpportunityThird-Party Relationships
Examination ProceduresTruth in Lending
Fair Credit Reporting

 

Anti-Terrorism

Customer Identification Programs - PDF 198k (PDF Help)
Interagency
Proposed 4/30/2003
The Department of the Treasury, the Financial Crimes Enforcement Network, and the seven federal financial regulators issued final rules that require certain financial institutions to establish procedures to verify the identity of new accountholders.

Authorized Activities

Authority for Certain Savings and Loan Holding Companies to Engage in Financial Activities - PDF 62k (PDF Help)
Office of Thrift Supervision
Notice of Proposed Rulemaking 11/8/2001

Bank Holding Company and Change in Control (Regulation Y) - PDF 142k (PDF Help)
Federal Reserve Board
Final Rule 12/22/2000
Final rule determines that acting as a "finder" is incidental to a financial activity and therefore a permissible activity for a financial holding company. Under the rule a finder may act through any means to bring together buyers and sellers of products and services for transactions that the parties themselves negotiate and consummate. Among other things, a finder may host an Internet marketplace consisting of links to the web sites of buyers and sellers. A finder also may operate a web site that allows buyers and sellers to post information concerning products and services and to enter into transactions among themselves. 12 CFR Part 225. 65 FR 80735 (12/22/00).

Furnishing of Products and Services by Electronic Means - PDF 55k (PDF Help)
Office of the Comptroller of the Currency
Final Rule 1/20/2000
A national bank may, for the benefit and convenience of its savings depositors, adopt an automatic payment plan under which a savings account will earn dividends at the current rate paid on regular savings accounts. The depositor, upon reaching a previously designated age, receives his or her accumulated savings and earned interest in installments of equal amounts over a specified period. 12 CFR § 7.1019 (as of 1/20/00).

Electronic Operations - PDF 92k (PDF Help)
Office of Thrift Supervision
Final Rule 11/30/1998
Final rule on electronic operations. 12 CFR Parts 545, 555, and 559. 63 FR 65673 (11/30/98).

OTS proposed to place the electronic operations regulations in new subpart B to part 545. (See proposed rule, 62 FR 51817 (10/3/97).)

However, OTS placed its electronic operations regulations under part 555. (See supplemental proposed rule, 63 FR 43327 (8/13/98).)

The final rule amended part 545, which deals with operations of Federal savings associations, by removing §§ 545.138 (data processing activities), 545.141 (remote service units), and 545.142 (home banking services). The activities authorized under those provisions continue under § 555.200. OTS added requirement that savings associations provide written notice before establishing a transactional web site under § 555.300(b). (See, CEO Memo 109 below.) The final rule also amended part 559, which deals with subordinate organizations of Federal savings associations, to subject service corporations to OTS exams.

Bank Holding Company

Bank Holding Company and Change in Control (Regulation Y) - PDF 142k (PDF Help)
Federal Reserve Board
Final Rule 12/22/2000
Final rule determines that acting as a "finder" is incidental to a financial activity and therefore a permissible activity for a financial holding company. Under the rule a finder may act through any means to bring together buyers and sellers of products and services for transactions that the parties themselves negotiate and consummate. Among other things, a finder may host an Internet marketplace consisting of links to the web sites of buyers and sellers. A finder also may operate a web site that allows buyers and sellers to post information concerning products and services and to enter into transactions among themselves. 12 CFR Part 225. 65 FR 80735 (12/22/00).

Change in Control

Bank Holding Company and Change in Control (Regulation Y) - PDF 142k (PDF Help)
Federal Reserve Board
Final Rule 12/22/2000
Final rule determines that acting as a "finder" is incidental to a financial activity and therefore a permissible activity for a financial holding company. Under the rule a finder may act through any means to bring together buyers and sellers of products and services for transactions that the parties themselves negotiate and consummate. Among other things, a finder may host an Internet marketplace consisting of links to the web sites of buyers and sellers. A finder also may operate a web site that allows buyers and sellers to post information concerning products and services and to enter into transactions among themselves. 12 CFR Part 225. 65 FR 80735 (12/22/00).

Customer Information Safeguards

Proper Disposal of Consumer Information under the Fair and Accurate Credit Transactions Act of 2003
Interagency
Final Rule 12/24/2004
The OCC, Board, FDIC, and OTS (the Agencies) are adopting a final rule to implement section 216 of the Fair and Accurate Credit Transactions Act of 2003 by amending the Interagency Guidelines Establishing Standards for Safeguarding Customer Information. The final rule generally requires each financial institution to develop, implement, and maintain, as part of its existing information security program, appropriate measures to properly dispose of consumer information derived from consumer reports to address the risks associated with identity theft. Effective date: July 1, 2005.

Proper Disposal of Consumer Information Under the Fair and Accurate Credit Transactions Act of 2003 - PDF (PDF Help)
Interagency
Notice and Request for Comments 7/23/2004
The the Agencies are requesting comment on a proposal to implement section 216 of the Fair and Accurate Credit Transactions Act of 2003 by amending the Interagency Guidelines Establishing Standards for Safeguarding Customer Information. The proposal would require each financial institution to develop, implement, and maintain appropriate measures to properly dispose of consumer information derived from consumer reports to address the risks associated with identity theft. Each institution would be required to implement these measures as part of its information security program.

Interagency Guidance on Response Programs for Unauthorized Access to Customer Information and Customer Notice - PDF 119k (PDF Help)
Interagency
Notice and Request for Comments 8/12/2003
The proposed Guidance describes the components of a response program, which includes notifying customers about incidents of unauthorized access to customer information that could result in substantial harm or inconvenience to the customer.

Study of Information Sharing Practices Among Financial Institutions and Their Affiliates - PDF 51k (PDF Help)
Office of the Comptroller of the Currency
Notice and Request for Comments 2/1/2002
Announces that the Secretary of the Treasury, in conjunction with the federal functional regulatory agencies and the FTC, is conducting a study of information sharing by financial institutions (as required by § 508, Gramm-Leach-Bliley Act of 1999). Notice issued on 2/15/02 and comment period ends April 1 (67 FR 7213).

OCC Bulletin 2002-11 - Word (Word Help)(3/15/02).

Interagency Guidelines Establishing Standards for Safeguarding Customer Information and Rescission of Year 2000 Standards for Safety and Soundness - PDF 531k (PDF Help)
Interagency
Final Rule 2/1/2001
Guidelines establishing standards for safeguarding customer information. 66 FR 8615 (2/1/01).
FDIC. Guidelines are set out in appendix B to part 364 (safety and soundness standards).Rule revises part 308 to reference the security guidelines. 12 CFR Parts 308 and 364.(See, also FDIC 501(b) Exam Guidance Procedures to assist examiners in evaluating an institution’s compliance with the customer safeguards and to ensure that the established standards are applied consistently (8/24/01).)
OCC. Guidelines are set out in appendix B to part 30 (safety and soundness standards). 12 CFR Part 30. (See, also OCC Examination Procedures to Evaluate Compliance with the Guidelines to Safeguard Customer Information - PDF 131k (PDF Help) and the Information Technology Portion of the Draft Community Bank Supervision - PDF 180k (PDF Help) booklet (7/18/01).)
FRB Guidelines are set out in appendix D-2 to part 208 (membership of state banking institutions in the Federal Reserve System). Rule revises the following parts 211, 225, and 263 to reference the security guidelines. 12 CFR Parts 208, 211, 225, 263.
OTS Guidelines are set out in appendix B to part 570 (submission and review of safety and soundness). Rule amends part 568 to reference the security guidelines. 12 CFR Parts 568 and 570.

Privacy of Consumer Financial Information - PDF 514k (PDF Help)
Interagency
Final Rule 6/1/2000
Final interagency privacy rules. 12 CFR Part 332. 65 FR 35162 (6/1/00).

FDIC. 12 CFR Part 332; OCC. 12 CFR Part 40; FRB. 12 CFR Part 216; OTS. 12 CFR Part 573.

Gramm-Leach-Bliley Act - PDF 97k (PDF Help)


Electronic Banking (on-line delivery of financial services)

Proposed rule to except transactions of $15 or less from Regulation E's receipt requirement - PDF (PDF Help)
Federal Reserve Board
Proposed 11/27/2006
The Federal Reserve Board requested public comment on a proposed rule to except transactions of $15 or less from Regulation E's requirement that receipts be made available to consumers for transactions initiated at an electronic terminal. The proposed exception is intended to facilitate the ability of consumers to use debit cards in retail environments where the receipt requirement may not be practical or cost-effective.

FDIC Proposes New Rule on Insurability of Funds Underlying Stored Value Cards
Federal Deposit Insurance Corporation
Proposed July 19, 2005
On July 19, 2005, the Board of Directors of the Federal Deposit Insurance Corporation (FDIC) proposed a new rule on the insurability of funds subject to transfer or withdrawal through the use of stored value cards and other nontraditional access devices, such as computers. This proposed rule replaces the proposed rule issued in April 2004.

Availability of Funds and Collection of Checks (Regulation CC) and Collection of Checks and Other Items by Federal Reserve Banks and Funds Transfers through Fedwire (Regulation J) - PDF (PDF Help)
Federal Reserve Board
Proposed 3/4/2005
Comment Period ends 5/3/2005
The Board of Governors of the Federal Reserve System (Board) is requesting public comment on a proposal to amend its Regulation CC (12 CFR 229), the implementing regulation for the Expedited Funds Availability Act, to set forth rules governing remotely created checks. Generally, in place of a signature, a remotely created check bears a statement that the customer authorized the check or bears the customer's printed or typed name. The terms "telecheck," "preauthorized drafts," and "paper draft" are among the terms that describe remotely created checks. The Board is also proposing conforming cross-references to the proposed new warranties in Regulation J (12 CFR 210). These proposals are designed to help reduce fraud in the check-processing system.

Interagency Regulation CC Examination Procedures - PDF (PDF Help)
Office of the Comptroller of the Currency
10/6/2004
The Board of Governors of the Federal Reserve System recently amended 12 CFR 229, Availability of Funds and Collection of Checks (Regulation CC), which implements the Check Clearing for the 21st Century Act (Check 21). Model form C-5A in Appendix C was effective on August 4, 2004, and paragraph (4) of Appendix D will become effective on January 1, 2006. All other changes are effective on October 28, 2004. The Federal Financial Institutions Examination Council's Task Force on Consumer Compliance approved updated interagency Regulation CC examination procedures for consumer compliance issues on October 6, 2004. The OCC plans to incorporate these procedures in an update to the Comptroller's handbook series. Until the revised handbook is issued, examiners should use the attached procedures.

Regulation J - PDF 261k (PDF Help)
Federal Reserve Board
Final 10/22/2004
The Federal Reserve Board released final amendments to Regulation J to provide for the rights and obligations of banks and Reserve Banks relating to electronic items handled by Reserve Banks. These amendments ensure that Regulation J covers the electronic check processing service options that the Reserve Banks will offer when the Check Clearing for the 21st Century Act (Check 21 Act), which was enacted on October 28, 2003, becomes effective on October 28, 2004.

Regulation CC - PDF (PDF Help)
Federal Reserve Board
Final 7/26/2004
The Federal Reserve Board released final amendments to Regulation CC and its commentary to implement the Check Clearing for the 21st Century Act (Check 21 Act), which was enacted on October 28, 2003 and becomes effective on October 28, 2004.
To facilitate check truncation and electronic check exchange, the Check 21 Act authorizes a new negotiable instrument called a "substitute check." A substitute check is a paper reproduction of the original check that contains an image of the front and back of the original check and can be processed just like the original check. The Check 21 Act provides that a properly prepared substitute check is the legal equivalent of the original check for all purposes. The Check 21 Act does not require any bank to create substitute checks or to accept checks electronically. The Check 21 Act includes new warranties, an indemnity, and expedited recredit procedures that protect substitute check recipients.
The Board's amendments: (1) set forth the requirements of the Check 21 Act that apply to banks; (2) provide a model disclosure and model notices relating to substitute checks; and (3) set forth bank indorsement and identification requirements for substitute checks. The amendments also clarify some existing provisions of the rule and commentary.

Collection of Checks and Other Items by Federal Reserve Banks and Funds Transfers Through Fedwire - PDF 228k (PDF Help)
Federal Reserve Board
Proposed 6/4/2004
The Board of Governors is publishing for comment a proposed rule that would amend Subpart A of Regulation J to provide for the rights and obligations of sending banks, paying banks, returning banks, and Reserve Banks in connection with the collection of substitute checks and items that have been converted to electronic form . The proposed changes would ensure that Regulation J covers the new check processing service options that the Reserve Banks plan to offer when the Check Clearing for the 21st Century Act becomes effective on October 28, 2004.

Implementation of the Check Clearing for the 21st Century Act - PDF 260k (PDF Help)
Federal Reserve Board
Proposed 12/22/2003
The Federal Reserve Board approved a proposed rule to amend Regulation CC and its commentary to implement the Check Clearing for the 21st Century Act (Check 21 Act). The Check 21 Act was enacted on October 28, 2003, and becomes effective on October 28, 2004. To facilitate check truncation and electronic check exchange, the Check 21 Act authorizes a new negotiable instrument called a "substitute check" and provides that a properly prepared substitute check is the legal equivalent of the original check for all purposes. A substitute check is a paper reproduction of the original check that can be processed just like the original check. The Check 21 Act does not require any bank to create substitute checks or to accept checks electronically. The Board's proposed amendments: (1) set forth the requirements of the Check 21 Act that apply to banks; (2) provide a model disclosure and model notices relating to substitute checks; and (3) set forth bank indorsement and identification requirements for substitute checks. The proposed amendments also clarify some existing provisions of the rule and commentary.

Authority for Certain Savings and Loan Holding Companies to Engage in Financial Activities - PDF 62k (PDF Help)
Office of Thrift Supervision
Notice of Proposed Rulemaking 11/8/2001
Notice of proposed rulemaking to revise OTS’s regulations to clarify what financial activities are authorized for certain savings and loan holding companies (SLHCs) after the Gramm-Leach-Bliley Act. This proposal explains how the conditions the Federal Reserve Board imposes on financial holding companies would apply to those SLHCs. 66 FR 56488 (11/8/01).

(See, also, the FRB’s final rule that determines that acting as a "finder" is incidental to a financial activity and therefore a permissible activity for a financial holding company. 65 FR 80735 (12/22/00).)

Study of Banking Regulations Regarding the Online Delivery of Banking Services - PDF (PDF Help)
Federal Deposit Insurance Corporation
Notice of Proposed Rulemaking 7/16/2001
FDIC is reviewing its regulations regarding the delivery of financial services in order to identify changes or additions to its regulations that would facilitate the use of new technologies by financial institutions. Requests comments on issues arising from the electronic delivery of financial products and services. 66 FR 37029 (7/16/01). FDIC published a correction to the above notice to add the electronic public comment site to the "Addresses" section of the original notice. 66 FR 38279 (7/23/01).

Electronic Banking - PDF 85k (PDF Help)
Office of the Comptroller of the Currency
Notice of Proposed Rulemaking 7/2/2001
Requests comments on proposal to amend OCC regulations in order to facilitate national banks’ ability to conduct business using electronic technologies, consistent with safety and soundness. The proposal groups together new and revised regulations addressing: National banks’ exercise of their Federally authorized powers through electronic means; the location, for purposes of Federal Banking laws, of a national bank that engages in electronic activities; and the disclosures required when a national bank provides its customers access to other service providers through hyperlinks in the bank’s website or through other shared electronic "space". 66 FR 34855 (7/2/01). (OCC ANPR relating to banking regulations and electronic financial services are described below.)

Study of Banking Regulations Regarding the Online Delivery of Financial Services - PDF 51k (PDF Help)
Office of Thrift Supervision
Notice of Proposed Rulemaking 6/11/2001
Requests comment on a variety of issues relating to the electronic delivery of financial products and services by savings associations (federally-charted or state chartered). 66 FR 31186 (6/11/01). (OTS ANPR relating to banking regulations and electronic financial services are described below.)

Study of Banking Regulations Regarding the Online Delivery of Financial Services - PDF (PDF Help)
Federal Reserve Board
Notice of Proposed Rulemaking 5/21/2001
Requests comment on a range of issues concerning delivery of financial products and services over the Internet to assess whether any FRB regs should be amended in order to facilitate online banking. Also requests comment on how particular statutory provisions affect the online delivery of financial products or services. FRB notes that the OCC specifically requested comment in connection with the same study of its regs and will review those comments in connection with the FRB’s own study.

(See, OCC ANPR at 65 FR 4895 (2/2/00).)

The FRB has requested comment on revising its regulations to facilitate electronic delivery of financial products and services to individual consumers, such as the provisions regarding periodic statements under Regulations E, Z, and DD (described below). Any comments submitted in connection with the review of those regs also will be considered for this study and report. 66 FR 27912 (5/21/01).

Electronic Fund Transfers (Regulation E) - PDF 72k (PDF Help)
Federal Reserve Board
Final Rule 3/15/2001
Final rule and official staff interpretation to Reg. E. The commentary interprets the requirements of Reg. E to facilitate compliance by financial institutions that offer electronic fund transfer services to consumers. The rule provides guidance on electronic authorization of recurring debits from a consumer’s account, electronic check conversion transactions, aggregation services, and other issues. 12 CFR Part 205. 66 FR 15187 (3/16/01).

Electronic Fund Transfers (Regulation E) - PDF 56k (PDF Help)
Federal Reserve Board
Final Rule 3/6/2001
Final rule revises Regulation E, which implements the Electronic Fund Transfer Act, to require disclosure of certain fees associated with automated teller machine (ATM) transactions. The amendments require ATM operators that impose a fee for providing electronic fund transfer services to post a notice in a prominent and conspicuous location on or at the ATM. The operator must also disclose that a fee will be imposed and the amount of the fee, either on the screen of the machine or on a paper notice, before the consumer is committed to completing the transaction. 12 CFR Part 205; 66 FR 13409 (3/6/01).

Bank Holding Company and Change in Control (Regulation Y) - PDF 142k (PDF Help)
Federal Reserve Board
Final Rule 12/22/2000
Final rule determines that acting as a "finder" is incidental to a financial activity and therefore a permissible activity for a financial holding company. Under the rule a finder may act through any means to bring together buyers and sellers of products and services for transactions that the parties themselves negotiate and consummate. Among other things, a finder may host an Internet marketplace consisting of links to the web sites of buyers and sellers. A finder also may operate a web site that allows buyers and sellers to post information concerning products and services and to enter into transactions among themselves. 12 CFR Part 225. 65 FR 80735 (12/22/00).

Electronic Banking - PDF (PDF Help)
Office of the Comptroller of the Currency
Notice of Proposed Rulemaking 2/2/2000
Advanced notice of proposed rulemaking seeking comments on electronic banking issues as first step to adapt regulations to accommodate new technologies. 12 CFR Chapter I. 65 FR 4895 (2/2/00).

Furnishing of Products and Services by Electronic Means - PDF 55k (PDF Help)
Office of the Comptroller of the Currency
Final Rule 1/20/2000
A national bank may, for the benefit and convenience of its savings depositors, adopt an automatic payment plan under which a savings account will earn dividends at the current rate paid on regular savings accounts. The depositor, upon reaching a previously designated age, receives his or her accumulated savings and earned interest in installments of equal amounts over a specified period. 12 CFR § 7.1019 (as of 1/20/00).

Electronic Operations - PDF 92k (PDF Help)
Office of Thrift Supervision
Final Rule 11/30/1998
Final rule on electronic operations. 12 CFR Parts 545, 555, and 559. 63 FR 65673 (11/30/98).

OTS proposed to place the electronic operations regulations in new subpart B to part 545. (See proposed rule, 62 FR 51817 (10/3/97).)

However, OTS placed its electronic operations regulations under part 555. (See supplemental proposed rule, 63 FR 43327 (8/13/98).)

The final rule amended part 545, which deals with operations of Federal savings associations, by removing §§ 545.138 (data processing activities), 545.141 (remote service units), and 545.142 (home banking services). The activities authorized under those provisions continue under § 555.200. OTS added requirement that savings associations provide written notice before establishing a transactional web site under § 555.300(b). (See, CEO Memo 109 below.) The final rule also amended part 559, which deals with subordinate organizations of Federal savings associations, to subject service corporations to OTS exams.

Deposits and Electronic Banking - PDF 79k (PDF Help)
Office of Thrift Supervision
Notice of Proposed Rulemaking 4/2/1997
Advanced notice of proposed rulemaking seeking comments on whether current electronic banking regulations adequately address advances in technology. 12 CFR Part 545. 62 FR 15626 (4/2/97).

Electronic Disclosures

Equal Credit Opportunity; Electronic Fund Transfers; Consumer Leasing; Truth in Lending; Truth in Savings - PDF (PDF Help)
Federal Reserve Board
Interim Final Rule 8/8/2001
Interim final rule; lifting mandatory compliance. On March 30, and April 4, 2001, the Board published interim final rules to establish uniform standards for electronic delivery of federally mandated disclosures under five consumer protection regulations: Reg. B (Equal Credit Opportunity), Reg. E (Electronic Fund Transfers), Reg. M (Consumer Leasing), Reg. Z (Truth in Lending), and Reg. DD (Truth in Savings).

The Board established October 1, 2001 as the mandatory compliance date for the interim final rules. To address concerns from commenters, the Board is considering adjustments to the rules to provide additional flexibility. Therefore, the Board is lifting the mandatory compliance date for the interim rules. Once permanent final rules are issued, the Board expects to afford institutions a reasonable period of time to comply with those rules. 66 FR 41439 (8/8/01).

Electronic Fund Transfers (Regulation E) - PDF 72k (PDF Help)
Federal Reserve Board
Final Rule 3/15/2001
Final rule and official staff interpretation to Reg. E. The commentary interprets the requirements of Reg. E to facilitate compliance by financial institutions that offer electronic fund transfer services to consumers. The rule provides guidance on electronic authorization of recurring debits from a consumer’s account, electronic check conversion transactions, aggregation services, and other issues. 12 CFR Part 205. 66 FR 15187 (3/16/01).

Electronic Fund Transfers (Regulation E) - PDF 56k (PDF Help)
Federal Reserve Board
Final Rule 3/6/2001
Final rule revises Regulation E, which implements the Electronic Fund Transfer Act, to require disclosure of certain fees associated with automated teller machine (ATM) transactions. The amendments require ATM operators that impose a fee for providing electronic fund transfer services to post a notice in a prominent and conspicuous location on or at the ATM. The operator must also disclose that a fee will be imposed and the amount of the fee, either on the screen of the machine or on a paper notice, before the consumer is committed to completing the transaction. 12 CFR Part 205; 66 FR 13409 (3/6/01).

Customer Protections for Deposit Institution Sales of Insurance - PDF 317k (PDF Help)
Interagency
Final Rule 12/4/2000
Final interagency consumer protection regulations concerning retail sales practices, solicitations, advertising, or offers of any insurance product by a depository institution. 65 FR 78521 (12/4/00).

Effective date was extended from 4/1/01 to 10/1/01. 66 FR 15345 (3/19/01).

FDIC. 12 CFR Part 343; OTS. 12 CFR Part 14; FRB. 12 CFR Part 208; OTS. 12 CFR Part 536.

Privacy of Consumer Financial Information - PDF 512k (PDF Help)
Interagency
Final Rule 6/1/2000
Final interagency privacy rules. 12 CFR Part 332. 65 FR 35162 (6/1/00).

FDIC. 12 CFR Part 332; OCC. 12 CFR Part 40; FRB. 12 CFR Part 216; OTS. 12 CFR Part 573.

Interim Final Rules on Electronic Disclosures
Federal Reserve Board
Interim Final Rule
Interim final rules to establish uniform standards for electronic delivery of federally mandated disclosures under five consumer protection regulations: Reg. B (Equal Credit Opportunity), Reg. E (Electronic Fund Transfers), Reg. M (Consumer Leasing), Reg. Z (Truth in Lending), and Reg. DD (Truth in Savings).

Financial institutions, creditors, lessors, and others may deliver disclosures electronically if they obtain consumers' consent in accordance with the requirements of the E-Sign Act (enacted in June 2000). The interim rules provide guidance on the timing and delivery of electronic disclosures to ensure consumers have adequate opportunity to access and retain the information.

Reg. B, 12 CFR Part 202; 66 FR 17779 - PDF 51k (PDF Help) (3/30/01).
Reg. E, 12 CFR Part 205; 66 FR 17786 - PDF 75k (PDF Help) (4/4/01).
Reg. M, 12 CFR Part 213; 66 FR 17322 - PDF 66k (PDF Help) (3/30/01).
Reg. Z, 12 CFR Part 226; 66 FR 17329 - PDF 88k (PDF Help) (3/30/01).
Reg. DD, 12 CFR Part 230; 66 FR 17795 - PDF 73k (PDF Help) (4/4/01).


Electronic Funds Transfer

Proposed rule to except transactions of $15 or less from Regulation E's receipt requirement - PDF (PDF Help)
Federal Reserve Board
Proposed 11/27/2006
The Federal Reserve Board requested public comment on a proposed rule to except transactions of $15 or less from Regulation E's requirement that receipts be made available to consumers for transactions initiated at an electronic terminal. The proposed exception is intended to facilitate the ability of consumers to use debit cards in retail environments where the receipt requirement may not be practical or cost-effective.

Availability of Funds and Collection of Checks (Regulation CC) and Collection of Checks and Other Items by Federal Reserve Banks and Funds Transfers through Fedwire (Regulation J) - PDF (PDF Help)
Federal Resesrve Board
Proposed 3/4/2005
Comment Period ends 5/3/2005
The Board of Governors of the Federal Reserve System (Board) is requesting public comment on a proposal to amend its Regulation CC (12 CFR 229), the implementing regulation for the Expedited Funds Availability Act, to set forth rules governing remotely created checks. Generally, in place of a signature, a remotely created check bears a statement that the customer authorized the check or bears the customer's printed or typed name. The terms "telecheck," "preauthorized drafts," and "paper draft" are among the terms that describe remotely created checks. The Board is also proposing conforming cross-references to the proposed new warranties in Regulation J (12 CFR 210). These proposals are designed to help reduce fraud in the check-processing system.

Regulation E Electronic Funds Transfer - PDF 244k (PDF Help)
Federal Reserve Board
Proposed 9/13/2004
Comment Period ends 11/19/2004
The Federal Reserve Board on Monday requested public comment on proposed amendments to Regulation E, which implements the Electronic Fund Transfer Act, and the regulation's official staff commentary. The proposed revisions to the regulation would provide guidance regarding the rights, liabilities, and responsibilities of parties engaged in electronic check conversion transactions and would provide that payroll card accounts are "accounts" covered by Regulation E.
Among the proposed changes, persons, such as merchants and other payees, that use information from a check to initiate an electronic fund transfer from a consumer's account, would be required to provide notice to the consumer for each electronic fund transfer and obtain the consumer's authorization for the transaction. Currently, merchants and other payees that engage in electronic check conversion transactions are not covered by Regulation E.
In addition, the regulation would be revised to provide that payroll card accounts that are established either directly or indirectly by an employer on behalf of a consumer for the purpose of providing salary, wages, or other employee compensation on a recurring basis are covered by Regulation E. A payroll card account would be subject to the regulation whether the account is operated or managed by the employer, a third-party payroll processor, or a depository institution.
Proposed commentary revisions would provide guidance on preauthorized electronic transfers from a consumer's account, additional electronic check conversion issues, error resolution, and other matters.

Regulation CC - PDF (PDF Help)
Federal Reserve Board
Final 7/26/2004
The Federal Reserve Board released final amendments to Regulation CC and its commentary to implement the Check Clearing for the 21st Century Act (Check 21 Act), which was enacted on October 28, 2003 and becomes effective on October 28, 2004.
To facilitate check truncation and electronic check exchange, the Check 21 Act authorizes a new negotiable instrument called a "substitute check." A substitute check is a paper reproduction of the original check that contains an image of the front and back of the original check and can be processed just like the original check. The Check 21 Act provides that a properly prepared substitute check is the legal equivalent of the original check for all purposes. The Check 21 Act does not require any bank to create substitute checks or to accept checks electronically. The Check 21 Act includes new warranties, an indemnity, and expedited recredit procedures that protect substitute check recipients.
The Board's amendments: (1) set forth the requirements of the Check 21 Act that apply to banks; (2) provide a model disclosure and model notices relating to substitute checks; and (3) set forth bank indorsement and identification requirements for substitute checks. The amendments also clarify some existing provisions of the rule and commentary.

Collection of Checks and Other Items by Federal Reserve Banks and Funds Transfers Through Fedwire - PDF 228k (PDF Help)
Federal Reserve Board
Proposed 6/4/2004
The Board of Governors is publishing for comment a proposed rule that would amend Subpart A of Regulation J to provide for the rights and obligations of sending banks, paying banks, returning banks, and Reserve Banks in connection with the collection of substitute checks and items that have been converted to electronic form . The proposed changes would ensure that Regulation J covers the new check processing service options that the Reserve Banks plan to offer when the Check Clearing for the 21st Century Act becomes effective on October 28, 2004.

Equal Credit Opportunity; Electronic Fund Transfers; Consumer Leasing; Truth in Lending; Truth in Savings - PDF (PDF Help)
Federal Reserve Board
Interim Final Rule 8/8/2001
Interim final rule; lifting mandatory compliance. On March 30, and April 4, 2001, the Board published interim final rules to establish uniform standards for electronic delivery of federally mandated disclosures under five consumer protection regulations: Reg. B (Equal Credit Opportunity), Reg. E (Electronic Fund Transfers), Reg. M (Consumer Leasing), Reg. Z (Truth in Lending), and Reg. DD (Truth in Savings).

The Board established October 1, 2001 as the mandatory compliance date for the interim final rules. To address concerns from commenters, the Board is considering adjustments to the rules to provide additional flexibility. Therefore, the Board is lifting the mandatory compliance date for the interim rules. Once permanent final rules are issued, the Board expects to afford institutions a reasonable period of time to comply with those rules. 66 FR 41439 (8/8/01).

Electronic Fund Transfers (Regulation E) - PDF 72k (PDF Help)
Federal Reserve Board
Final Rule 3/15/2001
Final rule and official staff interpretation to Reg. E. The commentary interprets the requirements of Reg. E to facilitate compliance by financial institutions that offer electronic fund transfer services to consumers. The rule provides guidance on electronic authorization of recurring debits from a consumer’s account, electronic check conversion transactions, aggregation services, and other issues. 12 CFR Part 205. 66 FR 15187 (3/16/01).

Electronic Fund Transfers (Regulation E) - PDF 56k (PDF Help)
Federal Reserve Board
Final Rule 3/6/2001
Final rule revises Regulation E, which implements the Electronic Fund Transfer Act, to require disclosure of certain fees associated with automated teller machine (ATM) transactions. The amendments require ATM operators that impose a fee for providing electronic fund transfer services to post a notice in a prominent and conspicuous location on or at the ATM. The operator must also disclose that a fee will be imposed and the amount of the fee, either on the screen of the machine or on a paper notice, before the consumer is committed to completing the transaction. 12 CFR Part 205; 66 FR 13409 (3/6/01).

Interim Final Rules on Electronic Disclosures
Federal Reserve Board
Interim Final Rule
Interim final rules to establish uniform standards for electronic delivery of federally mandated disclosures under five consumer protection regulations: Reg. B (Equal Credit Opportunity), Reg. E (Electronic Fund Transfers), Reg. M (Consumer Leasing), Reg. Z (Truth in Lending), and Reg. DD (Truth in Savings).

Financial institutions, creditors, lessors, and others may deliver disclosures electronically if they obtain consumers' consent in accordance with the requirements of the E-Sign Act (enacted in June 2000). The interim rules provide guidance on the timing and delivery of electronic disclosures to ensure consumers have adequate opportunity to access and retain the information.

Reg. B, 12 CFR Part 202; 66 FR 17779 - PDF 51k (PDF Help) (3/30/01).
Reg. E, 12 CFR Part 205; 66 FR 17786 - PDF 75k (PDF Help) (4/4/01).
Reg. M, 12 CFR Part 213; 66 FR 17322 - PDF 66k (PDF Help) (3/30/01).
Reg. Z, 12 CFR Part 226; 66 FR 17329 - PDF 88k (PDF Help) (3/30/01).
Reg. DD, 12 CFR Part 230; 66 FR 17795 - PDF 73k (PDF Help) (4/4/01).


Equal Credit Opportunity

Equal Credit Opportunity; Electronic Fund Transfers; Consumer Leasing; Truth in Lending; Truth in Savings - PDF (PDF Help)
Federal Reserve Board
Interim Final Rule 8/8/2001
Interim final rule; lifting mandatory compliance. On March 30, and April 4, 2001, the Board published interim final rules to establish uniform standards for electronic delivery of federally mandated disclosures under five consumer protection regulations: Reg. B (Equal Credit Opportunity), Reg. E (Electronic Fund Transfers), Reg. M (Consumer Leasing), Reg. Z (Truth in Lending), and Reg. DD (Truth in Savings).

The Board established October 1, 2001 as the mandatory compliance date for the interim final rules. To address concerns from commenters, the Board is considering adjustments to the rules to provide additional flexibility. Therefore, the Board is lifting the mandatory compliance date for the interim rules. Once permanent final rules are issued, the Board expects to afford institutions a reasonable period of time to comply with those rules. 66 FR 41439 (8/8/01).

Examination Procedures

Sarbanes-Oxley Act of 2002 - PDF 67k (PDF Help)

7/30/2002

Bank Service Company Act - PDF 88k (PDF Help)


Fair Credit Reporting

FACT Act implementation
Interagency
Final Rule 12/28/2004
The OCC, Board, FDIC, and OTS (the Agencies) are adopting a final rule to implement section 216 of the Fair and Accurate Credit Transactions Act of 2003 by amending the Interagency Guidelines Establishing Standards for Safeguarding Customer Information. The final rule generally requires each financial institution to develop, implement, and maintain, as part of its existing information security program, appropriate measures to properly dispose of consumer information derived from consumer reports to address the risks associated with identity theft. EFFECTIVE DATE: July 1, 2005.

FACT Act implementation - PDF 67k (PDF Help)
Federal Reserve Board
Interim Final Rule 12/16/2003
Request for comment on interim final rules and proposed rules to establish effective dates for certain provisions of the Fair and Accurate Transactions Act of 2003 (FACT Act) including provisions that preempt state laws that regulate areas governed by the Fair Credit Reporting Act (FCRA)

Fair Credit Reporting Regulations on Communication of Consumer Information Among Affiliated Institutions - PDF (PDF Help)
Interagency
Notice of Proposed Rulemaking 3/27/2001
Joint proposed notice and update on the status of an interagency rulemaking regarding sharing of information with affilitates under the Fair Credit Reporting Act (FCRA). The notice advises that the final FCRA rule will not apply to the Gramm-Leach-Bliley Act (GLBA) privacy notices that financial institutions must send prior to 1/1/02, or the effective date of a final FCRA rule, whichever is later. Financial institutions are instructed to prepare privacy notices in accordance with the GLBA privacy regulation and FCRA by July 1, 2001.

FDIC 12 CFR Part 334; OCC 12 CFR Part 41; FRB, 12 CFR Part 222; OTS, 12 CFR Part 571; 66 FR 16624 (3/27/01).

Fair Credit Reporting Regulations - PDF 299k (PDF Help)
Interagency
Notice of Proposed Rulemaking 10/20/2000
Interagency proposed rule implementing provisions of FCRA that permit institutions to communicate consumer information to their affiliates without incurring the obligations of consumer reporting agencies. The privacy rule does not modify, limit, or supercede the operation of FCRA. The privacy rule and FCRA may apply to an institution’s disclosure of consumer information. 65 FR 63120 (10/20/00).

FDIC. 12 CFR Part 334; FRB. 12 CFR Part 222; OTS 12 CFR Part 571; OCC. 12 CFR Part 41.

(See, also, Joint notice and update on status of the October FCRA proposal found at 66 FR 16624 (3/27/01).)

Fraud and Related Activity in Connection with Computers - PDF 56k (PDF Help)


Identity Theft

FACT Act implementation
Interagency
Final Rule 12/28/2004
The OCC, Board, FDIC, and OTS (the Agencies) are adopting a final rule to implement section 216 of the Fair and Accurate Credit Transactions Act of 2003 by amending the Interagency Guidelines Establishing Standards for Safeguarding Customer Information. The final rule generally requires each financial institution to develop, implement, and maintain, as part of its existing information security program, appropriate measures to properly dispose of consumer information derived from consumer reports to address the risks associated with identity theft. EFFECTIVE DATE: July 1, 2005.

Proper Disposal of Consumer Information Under the Fair and Accurate Credit Transactions Act of 2003 - PDF (PDF Help)
Interagency
Notice and Request for Comments 7/23/2004
The the Agencies are requesting comment on a proposal to implement section 216 of the Fair and Accurate Credit Transactions Act of 2003 by amending the Interagency Guidelines Establishing Standards for Safeguarding Customer Information. The proposal would require each financial institution to develop, implement, and maintain appropriate measures to properly dispose of consumer information derived from consumer reports to address the risks associated with identity theft. Each institution would be required to implement these measures as part of its information security program.

FACT Act implementation - PDF 67k (PDF Help)v
Federal Reserve Board
Interim Final Rule 12/16/2003
Request for comment on interim final rules and proposed rules to establish effective dates for certain provisions of the Fair and Accurate Transactions Act of 2003 (FACT Act) including provisions that preempt state laws that regulate areas governed by the Fair Credit Reporting Act (FCRA)

Information Security

Proper Disposal of Consumer Information under the Fair and Accurate Credit Transactions Act of 2003
Interagency
Final Rule 12/24/2004
The OCC, Board, FDIC, and OTS (the Agencies) are adopting a final rule to implement section 216 of the Fair and Accurate Credit Transactions Act of 2003 by amending the Interagency Guidelines Establishing Standards for Safeguarding Customer Information. The final rule generally requires each financial institution to develop, implement, and maintain, as part of its existing information security program, appropriate measures to properly dispose of consumer information derived from consumer reports to address the risks associated with identity theft. Effective date: July 1, 2005.

Interagency Guidelines Establishing Standards for Safeguarding Customer Information and Rescission of Year 2000 Standards for Safety and Soundness - PDF 531k (PDF Help)
Interagency
Final Rule 2/1/2001
Guidelines establishing standards for safeguarding customer information. 66 FR 8615 (2/1/01).
FDIC. Guidelines are set out in appendix B to part 364 (safety and soundness standards).Rule revises part 308 to reference the security guidelines. 12 CFR Parts 308 and 364.(See, also FDIC 501(b) Exam Guidance Procedures to assist examiners in evaluating an institution’s compliance with the customer safeguards and to ensure that the established standards are applied consistently (8/24/01).)
OCC. Guidelines are set out in appendix B to part 30 (safety and soundness standards). 12 CFR Part 30. (See, also OCC Examination Procedures to Evaluate Compliance with the Guidelines to Safeguard Customer Information - PDF 131k (PDF Help) and the Information Technology Portion of the Draft Community Bank Supervision - PDF 180k (PDF Help) booklet (7/18/01).)
FRB Guidelines are set out in appendix D-2 to part 208 (membership of state banking institutions in the Federal Reserve System). Rule revises the following parts 211, 225, and 263 to reference the security guidelines. 12 CFR Parts 208, 211, 225, 263.
OTS Guidelines are set out in appendix B to part 570 (submission and review of safety and soundness). Rule amends part 568 to reference the security guidelines. 12 CFR Parts 568 and 570.

Bank Protection Act - PDF 73k (PDF Help)


Fraud and Related Activity in Connection with Computers - PDF 56k (PDF Help)


Information Sharing

Study of Information Sharing Practices Among Financial Institutions and Their Affiliates - PDF 51k (PDF Help)
Office of the Comptroller of the Currency
Notice and Request for Comments 2/1/2002
Announces that the Secretary of the Treasury, in conjunction with the federal functional regulatory agencies and the FTC, is conducting a study of information sharing by financial institutions (as required by § 508, Gramm-Leach-Bliley Act of 1999). Notice issued on 2/15/02 and comment period ends April 1 (67 FR 7213).

OCC Bulletin 2002-11 - Word (Word Help) (3/15/02).

Fair Credit Reporting Regulations on Communication of Consumer Information Among Affiliated Institutions - PDF (PDF Help)
Interagency
Notice of Proposed Rulemaking 3/27/2001
Joint proposed notice and update on the status of an interagency rulemaking regarding sharing of information with affilitates under the Fair Credit Reporting Act (FCRA). The notice advises that the final FCRA rule will not apply to the Gramm-Leach-Bliley Act (GLBA) privacy notices that financial institutions must send prior to 1/1/02, or the effective date of a final FCRA rule, whichever is later. Financial institutions are instructed to prepare privacy notices in accordance with the GLBA privacy regulation and FCRA by July 1, 2001.

FDIC 12 CFR Part 334; OCC 12 CFR Part 41; FRB, 12 CFR Part 222; OTS, 12 CFR Part 571; 66 FR 16624 (3/27/01).

Fair Credit Reporting Regulations - PDF 299k (PDF Help)
Interagency
Notice of Proposed Rulemaking 10/20/2000
Interagency proposed rule implementing provisions of FCRA that permit institutions to communicate consumer information to their affiliates without incurring the obligations of consumer reporting agencies. The privacy rule does not modify, limit, or supercede the operation of FCRA. The privacy rule and FCRA may apply to an institution’s disclosure of consumer information. 65 FR 63120 (10/20/00).

FDIC. 12 CFR Part 334; FRB. 12 CFR Part 222; OTS 12 CFR Part 571; OCC. 12 CFR Part 41.

(See, also, Joint notice and update on status of the October FCRA proposal found at 66 FR 16624 (3/27/01).)

Gramm-Leach-Bliley Act - PDF 97k (PDF Help)


Money Laundering

Customer Identification Programs - PDF 198k (PDF Help)
Interagency
Proposed 4/30/2003
The Department of the Treasury, the Financial Crimes Enforcement Network, and the seven federal financial regulators issued final rules that require certain financial institutions to establish procedures to verify the identity of new accountholders.

Nondeposit Investment Products

Authority for Certain Savings and Loan Holding Companies to Engage in Financial Activities - PDF 62k (PDF Help)
Office of Thrift Supervision
Notice of Proposed Rulemaking 11/8/2001
Notice of proposed rulemaking to revise OTS’s regulations to clarify what financial activities are authorized for certain savings and loan holding companies (SLHCs) after the Gramm-Leach-Bliley Act. This proposal explains how the conditions the Federal Reserve Board imposes on financial holding companies would apply to those SLHCs. 66 FR 56488 (11/8/01).

(See, also, the FRB’s final rule that determines that acting as a "finder" is incidental to a financial activity and therefore a permissible activity for a financial holding company. 65 FR 80735 (12/22/00).)

Customer Protections for Deposit Institution Sales of Insurance - PDF 317k (PDF Help)
Interagency
Final Rule 12/4/2000
Final interagency consumer protection regulations concerning retail sales practices, solicitations, advertising, or offers of any insurance product by a depository institution. 65 FR 78521 (12/4/00).

Effective date was extended from 4/1/01 to 10/1/01. 66 FR 15345 (3/19/01).

FDIC. 12 CFR Part 343; OTS. 12 CFR Part 14; FRB. 12 CFR Part 208; OTS. 12 CFR Part 536.

Privacy

FACT Act implementation
Interagency
Final Rule 12/28/2004
The OCC, Board, FDIC, and OTS (the Agencies) are adopting a final rule to implement section 216 of the Fair and Accurate Credit Transactions Act of 2003 by amending the Interagency Guidelines Establishing Standards for Safeguarding Customer Information. The final rule generally requires each financial institution to develop, implement, and maintain, as part of its existing information security program, appropriate measures to properly dispose of consumer information derived from consumer reports to address the risks associated with identity theft. EFFECTIVE DATE: July 1, 2005.

Interagency Proposal to Consider Alternative Forms of Privacy Notices Under the Gramm-Leach-Bliley Act - PDF 248k (PDF Help)
Interagency
Notice of Proposed Rulemaking 12/30/2003
Interagency Proposal to Consider Alternative Forms of Privacy Notices Under the Gramm-Leach-Bliley Act. 12 CFR Part 332.

FACT Act implementation - PDF 57k (PDF Help)
Federal Reserve Board
Interim Final Rule 12/16/2003
Request for comment on interim final rules and proposed rules to establish effective dates for certain provisions of the Fair and Accurate Transactions Act of 2003 (FACT Act) including provisions that preempt state laws that regulate areas governed by the Fair Credit Reporting Act (FCRA)

Fair Credit Reporting Regulations on Communication of Consumer Information Among Affiliated Institutions - PDF (PDF Help)
Interagency
Notice of Proposed Rulemaking 3/27/2001
Joint proposed notice and update on the status of an interagency rulemaking regarding sharing of information with affilitates under the Fair Credit Reporting Act (FCRA). The notice advises that the final FCRA rule will not apply to the Gramm-Leach-Bliley Act (GLBA) privacy notices that financial institutions must send prior to 1/1/02, or the effective date of a final FCRA rule, whichever is later. Financial institutions are instructed to prepare privacy notices in accordance with the GLBA privacy regulation and FCRA by July 1, 2001.

FDIC 12 CFR Part 334; OCC 12 CFR Part 41; FRB, 12 CFR Part 222; OTS, 12 CFR Part 571; 66 FR 16624 (3/27/01).

Interagency Guidelines Establishing Standards for Safeguarding Customer Information and Rescission of Year 2000 Standards for Safety and Soundness - PDF 531k (PDF Help)
Interagency
Final Rule 2/1/2001
Guidelines establishing standards for safeguarding customer information. 66 FR 8615 (2/1/01).
FDIC. Guidelines are set out in appendix B to part 364 (safety and soundness standards).Rule revises part 308 to reference the security guidelines. 12 CFR Parts 308 and 364.(See, also FDIC 501(b) Exam Guidance Procedures to assist examiners in evaluating an institution’s compliance with the customer safeguards and to ensure that the established standards are applied consistently (8/24/01).)
OCC. Guidelines are set out in appendix B to part 30 (safety and soundness standards). 12 CFR Part 30. (See, also OCC Examination Procedures to Evaluate Compliance with the Guidelines to Safeguard Customer Information - PDF 131k (PDF Help)and the Information Technology Portion of the Draft Community Bank Supervision - PDF 180k (PDF Help)booklet (7/18/01).)
FRB Guidelines are set out in appendix D-2 to part 208 (membership of state banking institutions in the Federal Reserve System). Rule revises the following parts 211, 225, and 263 to reference the security guidelines. 12 CFR Parts 208, 211, 225, 263.
OTS Guidelines are set out in appendix B to part 570 (submission and review of safety and soundness). Rule amends part 568 to reference the security guidelines. 12 CFR Parts 568 and 570.

Fair Credit Reporting Regulations - PDF 299k (PDF Help)
Interagency
Notice of Proposed Rulemaking 10/20/2000
Interagency proposed rule implementing provisions of FCRA that permit institutions to communicate consumer information to their affiliates without incurring the obligations of consumer reporting agencies. The privacy rule does not modify, limit, or supercede the operation of FCRA. The privacy rule and FCRA may apply to an institution’s disclosure of consumer information. 65 FR 63120 (10/20/00).

FDIC. 12 CFR Part 334; FRB. 12 CFR Part 222; OTS 12 CFR Part 571; OCC. 12 CFR Part 41.

(See, also, Joint notice and update on status of the October FCRA proposal found at 66 FR 16624 (3/27/01).)

Privacy of Consumer Financial Information - PDF 514k (PDF Help)
Interagency
Final Rule 6/1/2000
Final interagency privacy rules. 12 CFR Part 332. 65 FR 35162 (6/1/00).

FDIC. 12 CFR Part 332; OCC. 12 CFR Part 40; FRB. 12 CFR Part 216; OTS. 12 CFR Part 573.

Gramm-Leach-Bliley Act - PDF 97k (PDF Help)


Risk Management

Study of Banking Regulations Regarding the Online Delivery of Banking Services - PDF (PDF Help)
Federal Deposit Insurance Corporation
Notice of Proposed Rulemaking 7/16/2001
FDIC is reviewing its regulations regarding the delivery of financial services in order to identify changes or additions to its regulations that would facilitate the use of new technologies by financial institutions. Requests comments on issues arising from the electronic delivery of financial products and services. 66 FR 37029 (7/16/01). FDIC published a correction to the above notice to add the electronic public comment site to the "Addresses" section of the original notice. 66 FR 38279 (7/23/01).

Electronic Banking - PDF 85k (PDF Help)
Office of the Comptroller of the Currency
Notice of Proposed Rulemaking 7/2/2001
Requests comments on proposal to amend OCC regulations in order to facilitate national banks’ ability to conduct business using electronic technologies, consistent with safety and soundness. The proposal groups together new and revised regulations addressing: National banks’ exercise of their Federally authorized powers through electronic means; the location, for purposes of Federal Banking laws, of a national bank that engages in electronic activities; and the disclosures required when a national bank provides its customers access to other service providers through hyperlinks in the bank’s website or through other shared electronic "space". 66 FR 34855 (7/2/01). (OCC ANPR relating to banking regulations and electronic financial services are described below.)

Study of Banking Regulations Regarding the Online Delivery of Financial Services - PDF 51k (PDF Help)
Office of Thrift Supervision
Notice of Proposed Rulemaking 6/11/2001
Requests comment on a variety of issues relating to the electronic delivery of financial products and services by savings associations (federally-charted or state chartered). 66 FR 31186 (6/11/01). (OTS ANPR relating to banking regulations and electronic financial services are described below.)

Study of Banking Regulations Regarding the Online Delivery of Financial Services - PDF (PDF Help)
Federal Reserve Board
Notice of Proposed Rulemaking 5/21/2001
Requests comment on a range of issues concerning delivery of financial products and services over the Internet to assess whether any FRB regs should be amended in order to facilitate online banking. Also requests comment on how particular statutory provisions affect the online delivery of financial products or services. FRB notes that the OCC specifically requested comment in connection with the same study of its regs and will review those comments in connection with the FRB’s own study.

(See, OCC ANPR at 65 FR 4895 (2/2/00).)

The FRB has requested comment on revising its regulations to facilitate electronic delivery of financial products and services to individual consumers, such as the provisions regarding periodic statements under Regulations E, Z, and DD (described below). Any comments submitted in connection with the review of those regs also will be considered for this study and report. 66 FR 27912 (5/21/01).

Electronic Banking - PDF (PDF Help)
Office of the Comptroller of the Currency
Notice of Proposed Rulemaking 2/2/2000
Advanced notice of proposed rulemaking seeking comments on electronic banking issues as first step to adapt regulations to accommodate new technologies. 12 CFR Chapter I. 65 FR 4895 (2/2/00).

Electronic Operations - PDF 92k (PDF Help)
Office of Thrift Supervision
Final Rule 11/30/1998
Final rule on electronic operations. 12 CFR Parts 545, 555, and 559. 63 FR 65673 (11/30/98).

OTS proposed to place the electronic operations regulations in new subpart B to part 545. (See proposed rule, 62 FR 51817 (10/3/97).)

However, OTS placed its electronic operations regulations under part 555. (See supplemental proposed rule, 63 FR 43327 (8/13/98).)

The final rule amended part 545, which deals with operations of Federal savings associations, by removing §§ 545.138 (data processing activities), 545.141 (remote service units), and 545.142 (home banking services). The activities authorized under those provisions continue under § 555.200. OTS added requirement that savings associations provide written notice before establishing a transactional web site under § 555.300(b). (See, CEO Memo 109 below.) The final rule also amended part 559, which deals with subordinate organizations of Federal savings associations, to subject service corporations to OTS exams.

Deposits and Electronic Banking - PDF 79k (PDF Help)
Office of Thrift Supervision
Notice of Proposed Rulemaking 4/2/1997
Advanced notice of proposed rulemaking seeking comments on whether current electronic banking regulations adequately address advances in technology. 12 CFR Part 545. 62 FR 15626 (4/2/97).

Suspicious Activity Reports

Suspicious Activity Reports - PDF (PDF Help)
Federal Deposit Insurance Corporation
Final Rule

Reports of Suspicious Activities - PDF (PDF Help)

Final Rule


Third-Party Relationships

Interagency Guidelines Establishing Standards for Safeguarding Customer Information and Rescission of Year 2000 Standards for Safety and Soundness - PDF 531k (PDF Help)
Interagency
Final Rule 2/1/2001
Guidelines establishing standards for safeguarding customer information. 66 FR 8615 (2/1/01).
FDIC. Guidelines are set out in appendix B to part 364 (safety and soundness standards).Rule revises part 308 to reference the security guidelines. 12 CFR Parts 308 and 364.(See, also FDIC 501(b) Exam Guidance Procedures to assist examiners in evaluating an institution’s compliance with the customer safeguards and to ensure that the established standards are applied consistently (8/24/01).)
OCC. Guidelines are set out in appendix B to part 30 (safety and soundness standards). 12 CFR Part 30. (See, also OCC Examination Procedures to Evaluate Compliance with the Guidelines to Safeguard Customer Information - PDF 131k (PDF Help) and the Information Technology Portion of the Draft Community Bank Supervision - PDF 180k (PDF Help) booklet (7/18/01).)
FRB Guidelines are set out in appendix D-2 to part 208 (membership of state banking institutions in the Federal Reserve System). Rule revises the following parts 211, 225, and 263 to reference the security guidelines. 12 CFR Parts 208, 211, 225, 263.
OTS Guidelines are set out in appendix B to part 570 (submission and review of safety and soundness). Rule amends part 568 to reference the security guidelines. 12 CFR Parts 568 and 570.

Fair Credit Reporting Regulations - PDF 299k (PDF Help)
Interagency
Notice of Proposed Rulemaking 10/20/2000
Interagency proposed rule implementing provisions of FCRA that permit institutions to communicate consumer information to their affiliates without incurring the obligations of consumer reporting agencies. The privacy rule does not modify, limit, or supercede the operation of FCRA. The privacy rule and FCRA may apply to an institution’s disclosure of consumer information. 65 FR 63120 (10/20/00).

FDIC. 12 CFR Part 334; FRB. 12 CFR Part 222; OTS 12 CFR Part 571; OCC. 12 CFR Part 41.

(See, also, Joint notice and update on status of the October FCRA proposal found at 66 FR 16624 (3/27/01).)

Privacy of Consumer Financial Information - PDF 514k (PDF Help)
Interagency
Final Rule 6/1/2000
Final interagency privacy rules. 12 CFR Part 332. 65 FR 35162 (6/1/00).

FDIC. 12 CFR Part 332; OCC. 12 CFR Part 40; FRB. 12 CFR Part 216; OTS. 12 CFR Part 573.

Truth in Lending

Regulation Z - PDF 288k (PDF Help)
Federal Reserve Board
Advance Notice of Proposed Rulemaking 12/3/2004
The Federal Reserve Board for public comment an advance notice of proposed rulemaking (ANPR) announcing a review of the open-end (revolving) credit rules of the Board's Regulation Z, which implements the Truth in Lending Act. The ANPR seeks comment on a variety of specific issues relating to three broad categories: (1) the format of open-end credit disclosures; (2) the content of the disclosures; and (3) the substantive protections provided under the regulation. The ANPR solicits comments on the scope of the review, and also requests commenters to identify other issues that the Board should consider addressing in the review. Comments are due by March 28, 2005.

Truth in Lending - PDF (PDF Help)
Federal Reserve Board
Notice of Proposed Rulemaking 12/13/2001
Notice and request for comment on proposed revisions to official staff commentary to Regulation Z, which implements the Truth in Lending Act. The revisions would clarify how creditors that place TILA disclosures on the same document with the credit contract may satisfy the requirement for providing disclosures in a form the consumer may keep before consummation. The proposed revisions also provide guidance on disclosing costs for certain credit insurance policies and on the definition of "business day" for purposes of the right to rescind certain home-secured loans. Comments were due by 2/01/02. Reg. Z, 12 CFR 226; 66 FR 64381 (12/13/01).

Equal Credit Opportunity; Electronic Fund Transfers; Consumer Leasing; Truth in Lending; Truth in Savings - PDF (PDF Help)
Federal Reserve Board
Interim Final Rule 8/8/2001
Interim final rule; lifting mandatory compliance. On March 30, and April 4, 2001, the Board published interim final rules to establish uniform standards for electronic delivery of federally mandated disclosures under five consumer protection regulations: Reg. B (Equal Credit Opportunity), Reg. E (Electronic Fund Transfers), Reg. M (Consumer Leasing), Reg. Z (Truth in Lending), and Reg. DD (Truth in Savings).

The Board established October 1, 2001 as the mandatory compliance date for the interim final rules. To address concerns from commenters, the Board is considering adjustments to the rules to provide additional flexibility. Therefore, the Board is lifting the mandatory compliance date for the interim rules. Once permanent final rules are issued, the Board expects to afford institutions a reasonable period of time to comply with those rules. 66 FR 41439 (8/8/01).

Interim Final Rules on Electronic Disclosures
Federal Reserve Board
Interim Final Rule
Interim final rules to establish uniform standards for electronic delivery of federally mandated disclosures under five consumer protection regulations: Reg. B (Equal Credit Opportunity), Reg. E (Electronic Fund Transfers), Reg. M (Consumer Leasing), Reg. Z (Truth in Lending), and Reg. DD (Truth in Savings).

Financial institutions, creditors, lessors, and others may deliver disclosures electronically if they obtain consumers' consent in accordance with the requirements of the E-Sign Act (enacted in June 2000). The interim rules provide guidance on the timing and delivery of electronic disclosures to ensure consumers have adequate opportunity to access and retain the information.

Reg. B, 12 CFR Part 202; 66 FR 17779 - PDF 51k (PDF Help) (3/30/01).
Reg. E, 12 CFR Part 205; 66 FR 17786 - PDF 75k (PDF Help) (4/4/01).
Reg. M, 12 CFR Part 213; 66 FR 17322 - PDF 66k (PDF Help) (3/30/01).
Reg. Z, 12 CFR Part 226; 66 FR 17329 - PDF 88k (PDF Help) (3/30/01).
Reg. DD, 12 CFR Part 230; 66 FR 17795 - PDF 73k (PDF Help) (4/4/01).



Last Updated 09/18/2013 legal@fdic.gov