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| TO: |
CHIEF EXECUTIVE OFFICER AND COMPLIANCE OFFICER |
| SUBJECT: |
Federal Reserve Board Seeks Comment on
Proposed Revisions to Regulation B
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The Board of Governors of the Federal Reserve System (FRB) has
proposed a rule to revise the model adverse action forms contained
in Appendix C of Regulation B, which implements the Equal
Credit Opportunity Act. The proposed revisions would carry out
changes to the Fair Credit Reporting Act adopted by Congress on
September 30, 1996. Those changes require that additional
information be disclosed to consumers about facts obtained from a
credit report when adverse action is taken on a credit account or
credit application.
The attached Federal Register notice contains the proposed rule,
which is open for comment through August 15, 1997. Comments
should be sent to:
Mr. William W. Wiles
Secretary
Board of Governors of the Federal Reserve System
20th Street and Constitution Avenue, N.W.
Washington, D.C. 20051
For further information, contact FRB staff members Jane Jensen
Gell, Senior Attorney, or Sheilah A. Goodman, Staff Attorney, of
the Division of Consumer and Community Affairs on (202)
452-3667.
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Carmen J. Sullivan |
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Director |
Attachment
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, N.W., Room 100, Washington, D.C. 20434 (800-276-6003
or (703) 562-2200). FDIC FIL's and PR's are available at
News, Events & FOIA
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