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Financial Institution Letters


ONLINE DELIVERY OF BANKING SERVICES

FIL-70-2001
August 28, 2001

TO: CHIEF EXECUTIVE OFFICER
SUBJECT: FDIC Seeks Comment on Study of Banking Regulations Regarding the Online Delivery of Banking Services

The Federal Deposit Insurance Corporation (FDIC) has issued the attached "Request for Comment on Study of Banking Regulations Regarding the Online Delivery of Banking Services." Section 729 of the Gramm-Leach-Bliley Act requires the FDIC to review its regulations regarding the delivery of financial services and report recommendations to Congress for adapting existing requirements to online banking and lending.

The FDIC is seeking public comment on issues regarding financial institutions' involvement in electronic banking before submission of the FDIC's report to Congress. Public comment will help determine whether any FDIC regulations should be revised to remove regulatory impediments to financial institutions' use of new technologies. The FDIC would also like to know whether it should consider promulgating regulations that would facilitate financial institutions' use of new technologies. Based on the comments received, the FDIC, in its report to Congress, may identify possible revisions or additions to FDIC regulations or supervisory guidance.

Written comments may be submitted by mail, hand-delivery, e-mail (comments@fdic.gov), or via the FDIC's Electronic Public Comments section of its Web site (www.fdic.gov/regulations/laws/publiccomments/index.html). Comments must be received by September 14, 2001.

For more information, please contact Jeffrey M. Kopchik (202-898-3872) in the FDIC's Division of Supervision, or Robert A. Patrick (202-898-3757) in the FDIC's Legal Division.

Michael J. Zamorski
Acting Director

Attachment: July 16, 2001, Federal Register, pages 37029-37030
HTML or PDF (39 KB File - PDF Help or Hard Copy)

Distribution: FDIC-Supervised Banks (Commercial and Savings)

NOTE: Paper copies of FDIC financial institution letters may be obtained through the FDIC's Public Information Center, 801 17th Street, NW, Room 100, Washington, DC 20434 (800-276-6003 or (703) 562-2200).

Last Updated 08/28/2001 communications@fdic.gov