Federal Deposit
Insurance Corporation

[Page 74907]

Federal Deposit Insurance Corporation (FDIC) Proposed Rule Stage

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4604. CONSUMER PROTECTION IN SALES OF INSURANCE

Priority: Substantive, Nonsignificant

Legal Authority: 12 USC 1819 (Seventh and Tenth); 12 USC 1831x

CFR Citation: 12 CFR 343

Legal Deadline: Final, Statutory, November 12, 2000.

Abstract: The rulemaking, sponsored jointly by the OCC, the FRS, the
FDIC and OTS, implements section 305 of the Gramm-Leach-Bliley Act of
1999, which requires regulations governing retail sales practices,
solicitations, advertising, or offers of any insurance product by a
depository institution or any person that is engaged in such activities
at an office of the institution or on behalf of the institution. In
addition, the rulemaking establishes a consumer grievance process.

Timetable:
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Action Date FR Cite

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NPRM 08/21/00 65 FR 50882
NPRM Comment Period End 10/05/00
Final Rule 11/00/00
Final Rule Effective 11/00/00

Regulatory Flexibility Analysis Required: No

Government Levels Affected: None

Agency Contact: Keith Ligon, Chief, Policy Unit, Division of
Supervision, Federal Deposit Insurance Corporation, Washington, DC
20429
Phone: 202 898-3618