The Board of Governors of the Federal Reserve System (FRB) published the attached interim final rules establishing uniform standards for the electronic delivery of federally mandated disclosures under five consumer protection regulations: B (Equal Credit Opportunity), E (Electronic Fund Transfers), M (Consumer Leasing), Z (Truth in Lending), and DD (Truth in Savings). The rules took effect on March 30, 2001; however, to allow time for any necessary operational changes, the mandatory compliance date is October 1, 2001.

Under the interim final rules, financial institutions, creditors, lessors and others may deliver disclosures electronically if they obtain the consumer's consent in accordance with the requirements of the Electronic Signatures in Global and National Commerce Act (E-Sign Act), enacted in June 2000. The interim final rules provide guidance on the timing and delivery of electronic disclosures, consistent with proposed rules issued by the FRB in August 1999, to ensure consumers have adequate opportunity to access and retain the information.

For more information, please contact Eric L. Kooistra, Review Examiner in the FDIC's Division of Compliance and Consumer Affairs, at (202) 942-3339 (e-mail Ekooistra@fdic.gov).

	Stephen M. Cross
	Director

Attachments:

April 4, 2001, Federal Register, pages 17779-17786
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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).