Enter Search TextSubmitSearch Advanced Search     Home     Deposit Insurance     Consumer Protection     Industry Analysis     Regulations & Examinations     Asset Sales     News & Events     About FDIC

		Home > Regulation & Examinations > Laws & Regulations > FDIC Law, Regulations, Related Acts

FDIC Law, Regulations, Related Acts

FEDERAL DEPOSIT INSURANCE CORPORATION     [Main Tabs]     [Index]     [Previous Page]     [Search] FEDERAL DEPOSIT INSURANCE CORPORATION REPORT BULLETIN NO. 7 March 31, 2008 550 Seventeenth Street, N.W. Washington, D.C. 20429 Order printed copies Supplement Highlights Supplement Highlights *Risk-Based Capital Standards: Advanced Capital Adequacy Framework - Basel II. The OCC, Federal Reserve, FDIC, and OTS adopted a new risk-based capital adequacy framework that requires some and permits other qualifying banks to use an internal ratings-based approach to calculate regulatory credit risk capital requirements and advanced measurement approaches to calculate regulatory operational risk capital requirements and advance measurement approaches to calculate regulatory operational risk capital requirements. The final rule describes the qualifying criteria for banks required or seeking to operate under the new framework and the applicable risk-based capital requirements for banks that operate under the framework. 72 Fed. Reg. 69288. See pages 2262.19--2262.84, and 6120.41--6120.117. *Fair Credit Reporting Affiliate Marketing Regulations. The OCC, Federal Reserve, FDIC, OTS, and NCUA published final rules to implement the affiliate marketing provisions in section 214 of the Fair and Accurate Credit Transactions Act of 2003 (FACT Act). The final rules generally prohibit a person from using information received from an affiliate to make a solicitation for marketing purposes to a consumer, unless the consumer is given notice and a reasonable opportunity and a reasonable and simple method to opt out of the making of such solicitations. 72 Fed. Reg. 62910. See pages 2409--2414.08. *Identity Theft Red Flags and Address Discrepancies Under the Fair and Accurate Credit Transactions Act of 2003. The OCC, Federal Reserve, FDIC, OTS, NCUA and FTS jointly published final rules and guidelines implementing section 114 of the Fair and Accurate Credit Transactions Act of 2003 (FACT Act) and final rules implementing section 315 of the FACT Act. The rules implementing section 114 require each financial institution or creditor to develop and implement a written Identity Theft Prevention Program to detect, prevent, and mitigate identity theft in connection with the opening of certain accounts or certain existing accounts. In addition, the Agencies are issuing guidelines to assist financial institutions and creditors in the formulation and maintenance of a Program that satisfies the requirements of the rules. 72 Fed. Reg. 63718. See pages 2409--2414.08, and 3165--3166. *Consumer Leasing. The Federal Reserve amended Regulation M, which implements the Consumer Leasing Act, to withdraw portions of the interim final rules for the electronic delivery of disclosures issued March 30, 2001. The interim final rules addressed the timing and delivery of electronic disclosures, consistent with the requirements of the Electronic Signatures in Global and National Commerce Act (E-Sign Act). In addition, the Board adopted final amendments to Regulation M to provide guidance on the electronic delivery of disclosures. 72 Fed. Reg. 63456. See pages 6685--6688, 6691--6692, 6719--6720, and 6731--6734. *Truth in Lending. The Federal Reserve amended Regulation Z which implements the Truth in Lending Act, and the official staff commentary to the regulation, to withdraw portions of the interim final rules for the electronic delivery of disclosures issued March 30, 2001. The 2001 interim final rules addressed the timing and delivery of electronic disclosures, consistent with the requirements of the Electronic Signatures in Global and National Commerce Act (E-Sign Act). In addition, the Board adopted final amendments to Regulation Z to provide guidance on the electronic delivery of disclosures. 72 Fed. Reg. 63462. See pages 6648.01--6648.02, 6649--6652.04, 6657--6666, 6666.03--6666.06, 6667--6670.03, 6678.27--6984.01, 6982.01--6982.02-C *Truth and Savings. The Board amended Regulation DD, which implements the Truth in Savings Act, and the official staff commentary to the regulation, to withdraw portions of the interim final rules for the electronic delivery of disclosures issued March 20, 2001. The interim final rules addressed the timing and delivery of electronic disclosers, consistent with the requirements of the Electronic Signatures in Global and National Commerce Act (E-Sign Act). Because compliance with 2001 interim final rules has not been mandatory, withdrawal of these provisions from the Code of Federal Regulations reduces confusion about the status of the provisions and simplifies the regulation. In addition, the Board adopted final amendments to Regulation DD to provide guidance on the electronic delivery of disclosures. 72 Fed. Reg. 63477. See pages 7429--7436.02, 7463--7464, 7469--7473, and 7476.03. *System of Records. The Federal Deposit Insurance Corporation added three new systems of records to its collection of systems of records notices published pursuant to the Privacy Act of 1974. The FDIC also revised twenty-three existing systems of records to update various system elements and to add routine use language recommended by the President's Task Force on Identity Theft. 72 Fed. Reg. 61131. See pages 2203--2226.45. *Electronic Funds Transfer. The Federal Reserve amended Regulation E, which implements the Electronic Fund Transfer Act, and the official staff commentary to the regulation, to withdraw portions of the interim final rules for the electronic delivery of disclosures issued March 30, 2001. The interim final rules addressed the timing and delivery of electronic disclosures, consistent with the requirements of the Electronic Signatures in Global and National Commerce Act (E-Sign Act). 72 Fed. Reg. 63452. See pages 7364.01, 7365--7366, 7375--7376, and 7408.03--7408.04. How to Obtain Replacement and Additional Copies of the FDIC Law, Regulations and Related Acts     [Main Tabs]     [Index]     [Next Page]     [Search]