Financial Update (July-Septemer 1997)
Got a Regulatory Question?
Fed's Advisory Service Provides Answers
hether it's making the proper disclosures or applying the appropriate deposit holds, regulatory compliance is a constant concern for bankers. Frequently, bank managers and their staffs have questions about whether a particular transaction complies with Federal Reserve regulations.
The Atlanta Fed's supervision and regulation department offers advisory services to bankers, consultants, attorneys and others needing information and assistance on regulatory issues. These services include reviewing disclosure forms for regulatory compliance and answering questions about consumer regulations. Advisory services staff do not provide legal opinions or interpretations. Instead, they help guide research and find appropriate regulatory references and observations written by examination staff.
For example, a regional banker called recently to find out the underwriting guidelines for Regulation B. The examiner who answered the call advised the banker on the sections of the regulation that pertained to the issue and discussed several other issues related to disparate impact. The examiner also advised the banker to consult with bank counsel to determine the legal issues involved.
Bankers, consultants or attorneys with questions about a consumer regulation should contact Federal Reserve examiner Linda Garland at (404) 589-7350.
Federal Reserve Consumer Regulations
Reg. B - Equal Credit Opportunity
Reg. C - Home Mortgage Disclosure
Reg. D - Reserve Requirements of Depository Institutions
Reg. E - Electronic Fund Transfers
Reg. M - Consumer Leasing
Reg. Z - Truth in Lending
Reg. AA - Unfair or Deceptive Acts or Practices
Reg. BB - Community Reinvestment
Reg. CC - Availability of Funds
Reg. DD - Truth in Savings
Other Nonregulatory Statutes