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Banking

Federal Reserve Board Issues Mortgage Rules

The Federal Reserve Board recently unveiled a number of final rules aimed at protecting consumers from unfair or abusive lending practices. The Board also proposed new mortgage lending rules dealing with enhanced consumer protections and disclosures as well as revisions to the escrow rules for jumbo mortgage loans.
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Consumer Credit Slips Further in July

Consumer credit outstanding declined again, albeit at a slower pace in July, according to the Federal Reserve's monthly Consumer Credit Report. Levels of consumer credit outstanding and revolving credit both fell.
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States tackle information security with a focus on payments fraud

As the number and seriousness of data breaches increase, some states have passed laws requiring businesses to comply with the Payment Card Industry Data Security Standard (PCI DSS). Other states have passed laws with enhanced privacy and encryption requirements for organizations that handle consumers' credit and debit card numbers.
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Updates & Other News

8/10/10
FOMC Statement
7/29/10
Fed Chairman, Governor Address Small Business Credit
7/20/10
Soccer balls and payment cards: A push for global standards
7/9/10
2009 Atlanta Fed Annual Report looks at Southeast Banking in the Financial Crisis
7/2/10
Banking in the Southeast
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Podcasts

July 27 Fraud and Risk in the ACH Network (Payments Spotlight)
June 30 Banking in the Southeast (Financial Update Focus)
May 27 Payments Fraud and the Economic Downturn (Payments Spotlight)
April 30 Redesigning the $100 Note (Financial Update Focus)

Recent Circular Letters

8/16/10
Federal Reserve proposes enhanced consumer protections and disclosures for home mortgage transactions
8/16/10
Federal Reserve announces final rules to protect mortgage borrowers from unfair, abusive, or deceptive lending practices that can arise from loan originator compensation practices
8/16/10
Federal Reserve announces final rules regarding consumer notification of mortgage loan sales or transfers
8/16/10
Federal Reserve proposes rule to revise escrow account requirements for jumbo mortgages
8/16/10
Federal Reserve issues interim rule revising disclosure requirements for closed-end mortgages

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