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FDIC Law, Regulations, Related Acts


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6500 - Consumer Protection

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CONSUMER PROTECTION



INDEX TO COMPLIANCE REGULATIONS
 
Advertising of Membership (FDIC Part 328)    2297
Community Reinvestment (FDIC Part 345)    2781
Interagency Questions and Answers Regarding Community Reinvestment    2788
Community Reinvestment Act    6988.25
Consumer Credit Protection Act    6565
Consumer Leasing (FRB Regulation M)    6685
Staff Commentary    6719
Consumer Leasing Act    6592
Consumer Protection in Sales of Insurance (FDIC Part 343)    2735
Deposit Insurance (FDIC Part 330)    2351
Discriminatory Conduct Under the Fair Housing Act     7498.07
Electronic Fund Transfers (FRB Regulation E)    7361
Staff Interpretations    7389
Electronic Fund Transfer Act    6625
Equal Credit Opportunity (FRB Regulation B)    7209
Staff Interpretations    7249
Equal Credit Opportunity Act    6610.19
Expedited Funds Availability (FRB Regulation CC)    7413
Staff Commentary    7418.40
Expedited Funds Availability Act    7424
Fair Credit Billing Act    6588.17
Fair Credit Reporting (FDIC Part 334)    2409
Fair Credit Reporting Act    6600
Fair Credit Reporting Act (FTC Statement of Policy)    7179
Fair Credit Reporting Act (FDIC Q & As)    7197
Fair Debt Collection Practices Act    6616.01
Fair Housing (FDIC Part 338)    2647
Fair Housing Act    6987
Financial Institutions Reform, Recovery and Enforcement Act of 1989    8581
Flood Insurance (FDIC Part 339)    2663
Flood Disaster Protection Act    7497
Home Mortgage Disclosure (FRB Regulation C)    7271
Staff Commentary    7287
Home Mortgage Disclosure Act    7301
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Interest on Deposits (FDIC Part 329)    2311
NOW Accounts    7087         7586.18
Preservation of Consumers' Claims and Defenses (FTC)    7161
Privacy of Consumer Financial Information (Part 332)    2389
Frequently Asked Questions for the Privacy Regulation    2404.05
Prohibition on Interstate Branching for Deposit Production (FDIC Part 369)    3235
Riegle-Neal Interstate Banking and Branching Efficiency Act    7491
Real Estate Settlement Procedures (HUD Regulations X)    6991
Real Estate Settlement Procedures Act    7071
Right to Financial Privacy Act    7091
Truth in Lending (FRB Regulation Z)    6641
Truth in Lending Act (Consumer Credit Protection Act)    6565
Truth in Lending Commentary    6871
Adjustable Rate Mortgage Caps    6989
Truth in Savings (FRB Regulation DD)    7429
Staff Interpretations (FRB Part 230)    7459
Truth in Savings Act    7477
Unfair or Deceptive Acts or Practices (FRB Regulation AA)    7409
Staff Guidance    7412.03.
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CONSUMER PROTECTION



TABLE OF CONTENTS


CONSUMER CREDIT PROTECTION ACT
SEC.   1    Short title of entire Act    6565


Title I—Consumer Credit Cost Disclosure


CHAPTER 1—GENERAL PROVISIONS
SEC. 101    Short title    6565
SEC. 102    Findings and declaration of purpose    6565
SEC. 103    Definitions and rules of construction    6566
SEC. 104    Exempted transactions    6569
SEC. 105    Regulations    6570
SEC. 106    Determination of finance charge    6570.01
SEC. 107    Determination of annual percentage rate    6570.03
SEC. 108    Administrative enforcement    6571
SEC. 109    Views of other agencies    6574
SEC. 110    [Repealed]
SEC. 111    Effect on other laws    6574
SEC. 112    Criminal liability for willful and knowing violation    6575
SEC. 113    Effect on governmental agencies    6575
SEC. 114    Reports by Board and Attorney General    6575
SEC. 115    [Repealed]


CHAPTER 2—CREDIT TRANSACTIONS
SEC. 121    General requirement of disclosure    6576
SEC. 122    Form of disclosure; additional information    6577
SEC. 123    Exemption for State-regulated transactions    6578
SEC. 124    Effect of subsequent occurrence    6578
SEC. 125    Right of rescission as to certain transactions    6578
SEC. 126    [Repealed]
SEC. 127    Open end consumer credit plans    6580
SEC. 127A    Disclosure requirements for open end consumer credit plans secured by the consumer's principal dwelling    6588
SEC. 128    Consumer credit not under open end credit plans    6588.03
SEC. 129    Requirements for certain mortgages      6588.04-A
SEC. 130    Civil liability    6588.06
SEC. 131    Liability of assignees    6588.08
SEC. 132    Issuance of credit cards    6588.10
SEC. 133    Liability of holder of credit card    6588.10
SEC. 134    Fraudulent use of credit card      6588.10-A
SEC. 135    Business credit cards      6588.10-A
SEC. 136    Dissemination of annual percentage rates      6588.10-B
SEC. 137    Home equity plans    6588.11
SEC. 138    Reverse mortgages    6588.13
SEC. 139    Certain limitations on liability    6588.13


CHAPTER 3—CREDIT ADVERTISING
SEC. 141    Catalogs and multiple-page advertisements    6588.14
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SEC. 142    Advertising of downpayments and installments    6588.14
SEC. 143    Advertising of open end credit plans    6588.15
SEC. 144    Advertising of credit other than open end plans    6588.15
SEC. 145    Nonliability of media    6588.16
SEC. 146    Use of annual percentage rate in oral disclosures    6588.16
SEC. 147    Advertising of open end consumer credit plans secured by consumer's principal dwelling    6588.16


CHAPTER 4—CREDIT BILLING
SEC. 161    Correction of billing errors    6588.17
SEC. 162    Regulation of credit reports    6590
SEC. 163    Length of billing period    6590.01
SEC. 164    Prompt crediting of payments    6590.01
SEC. 165    Treatment of credit balances    6590.01
SEC. 166    Prompt notification of returns    6590.01
SEC. 167    Use of cash discounts    6590.02
SEC. 168    Prohibition of tie-in services    6590.02
SEC. 169    Prohibition of offsets    6590.02
SEC. 170    Rights of credit card customers    6591
SEC. 171    Relation to State laws    6592


CHAPTER 5—CONSUMER LEASES
SEC. 181    Definitions    6592
SEC. 182    Consumer lease disclosures    6592.01
SEC. 183    Lessee's liability on expiration or termination of lease    6592.01
SEC. 184    Consumer lease advertising    6592.02
SEC. 185    Civil liability    6592.03
SEC. 186    Relation to State laws    6592.03
SEC. 187    Regulations    6592.04


Title II—Extortionate Credit Transactions
SEC. 201    Findings and purpose    6592.04
SEC. 202    Amendments to title 18, United States Code    6592.05


CHAPTER 42—EXTORTIONATE CREDIT TRANSACTIONS
Sec. 891    Definitions and rules of construction    6592.05
Sec. 892    Making extortionate extensions of credit    6592.06
Sec. 893    Financing extortionate extensions of credit    6593
Sec. 894    Collection of extensions of credit by extortionate means    6593
Sec. 895    [Repealed]
Sec. 896    Effect on State laws    6594


Title III—Restriction on Garnishment
SEC. 301    Findings and purpose    6594
SEC. 302    Definitions    6595
SEC. 303    Restriction on garnishment    6595
SEC. 304    Restriction on discharge from employment by reason of garnishment    6596
SEC. 305    Exemption for State-regulated garnishments    6596
SEC. 306    Enforcement by Secretary of Labor    6596
SEC. 307    Effect on State laws    6596


Title IV—National Commission on Consumer Finance
SEC. 401    Establishment    6597
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SEC. 402    Membership of the Commission    6597
SEC. 403    Compensation of members    6597
SEC. 404    Duties of the Commission    6597
SEC. 405    Powers of the Commission    6598
SEC. 406    Administrative arrangements    6599
SEC. 407    Authorization of appropriations    6599


Title V—General Provisions
SEC. 501    Severability    6600
SEC. 502    Captions and catchlines for reference only    6600
SEC. 503    Grammatical usages    6600
SEC. 504    Effective dates    6600


Title VI—Consumer Credit Reporting
SEC. 601    Short title    6601
SEC. 602    Findings and purpose    6601
SEC. 603    Definitions and rules of construction    6601
SEC. 604    Permissible purposes of reports    6607
SEC. 605    Requirements relating to information contained in consumer reports    6610.03
SEC. 605A    Identity theft prevention; fraud alerts and active duty alerts    6610.05
SEC. 605B    Block of information resulting from identity theft    6610.08
SEC. 606    Disclosure of investigative consumer reports    6610.09
SEC. 607    Compliance procedures    6610.10
SEC. 608    Disclosures to governmental agencies    6610.11
SEC. 609    Disclosures to consumers    6610.12
SEC. 610    Conditions and form of disclosure to consumers    6610.18
SEC. 611    Procedure in case of disputed accuracy    6610.19
SEC. 612    Charges for certain disclosures    6610.23
SEC. 613    Public record information for employment purposes    6610.25
SEC. 614    Restrictions on investigative consumer reports    6610.25
SEC. 615    Requirements on users of consumer reports    6610.26
SEC. 616    Civil liability for willful noncompliance    6610.30
SEC. 617    Civil liability for negligent noncompliance    6610.30
SEC. 618    Jurisdiction of courts; limitation of actions    6610.31
SEC. 619    Obtaining information under false pretenses    6610.31
SEC. 620    Unauthorized disclosures by officers or employees    6610.31
SEC. 621    Administrative enforcement    6610.31
SEC. 623    Responsibilities of furnishers of information to consumer reporting agencies    6610.35
SEC. 624    Affiliate sharing    6610.40
SEC. 625    Relation to State laws    6610.42
SEC. 626    Disclosures to FBI for counterintelligence purposes    6610.44
SEC. 627    Disclosures to governmental agencies for counterterrorism purposes    6610.46
SEC. 628    Disposal of records    6610.48
SEC. 629    Corporate and technological circumvention prohibited    6610.48


Title VII—Equal Credit Opportunity
SEC. 701    Prohibited discrimination; reasons for adverse action    6610.49
SEC. 702    Definitions    6612
SEC. 703    Regulations    6612
SEC. 704    Administrative enforcement    6613
SEC. 704A    Incentives for self-testing and self-correction    6614
SEC. 705    Relation to State laws    6614.01
SEC. 706    Civil liability    6615
SEC. 707    Annual reports to Congress    6616
SEC. 708    Effective date    6616
SEC. 709    Short title    6616.01
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Title VIII—Debt Collection Practices
SEC. 801    Short title    6616.01
SEC. 802    Findings and purpose    6616.01
SEC. 803    Definitions    6617
SEC. 804    Acquisition of location information    6618
SEC. 805    Communication in connection with debt collection    6618
SEC. 806    Harassment or abuse    6619
SEC. 807    False or misleading representations    6619
SEC. 808    Unfair practices    6620
SEC. 809    Validation of debts    6621
SEC. 810    Multiple debts    6622
SEC. 811    Legal actions by debt collectors    6622
SEC. 812    Furnishing certain deceptive forms    6622
SEC. 813    Civil liability    6622.01
SEC. 814    Administrative enforcement    6623
SEC. 815    Reports to Congress by the Commission    6624
SEC. 816    Relation to State laws    6624
SEC. 817    Exemption for State regulation    6624.01
SEC. 818    Exception for certain bad check enforcement programs operated by private entities    6624.01
SEC. 819    Effective date    6624.02
Federal Trade Commission Staff Commentary on the Fair Debt Collection Practices   Act    6624.05


Title IX—Electronic Fund Transfers
SEC. 901    Short title    6625
SEC. 902    Findings and purpose    6625
SEC. 903    Definitions    6625
SEC. 904    Regulations    6626
SEC. 905    Terms and conditions of transfers    6628.01
SEC. 906    Documentation of transfers; periodic statements    6628.02
SEC. 907    Preauthorized transfers    6629
SEC. 908    Error resolution    6629
SEC. 909    Consumer liability for unauthorized transfers    6631
SEC. 910    Liability of financial institutions    6632
SEC. 911    Issuance of cards or other means of access    6632
SEC. 912    Suspension of obligations    6633
SEC. 913    Compulsory use of electronic fund transfers    6633
SEC. 914    Waiver of rights    6633
SEC. 915    Civil liability    6633
SEC. 916    Criminal liability    6634
SEC. 917    Administrative enforcement    6635
SEC. 918    Reports to Congress    6636
SEC. 919    Relation to State laws    6636
SEC. 920    Exemption for State regulation    6637
SEC. 921    Effective date    6637


FEDERAL RESERVE BOARD'S REGULATION Z



PART 226—TRUTH IN LENDING




Subpart A—General
SEC. 226.1    Authority, purpose, coverage, organization, enforcement and liability    6642
SEC. 226.2    Definitions and rules of construction    6643
SEC. 226.3    Exempt transactions    6646
SEC. 226.4    Finance charge    6646
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Subpart B—Open-End Credit
SEC. 226.5    General disclosure requirements    6648.01
SEC. 226.5a    Credit and charge card applications and solicitations    6649
SEC. 226.5b    Requirements for home equity plans    6652
SEC. 226.6    Initial disclosure statement    6652.03
SEC. 226.7    Periodic statement    6652.04
SEC. 226.8    Identification of transactions    6652.05
SEC. 226.9    Subsequent disclosure requirements    6652.06
SEC. 226.10    Prompt crediting of payments    6652.08
SEC. 226.11    Treatment of credit balances    6652.08
SEC. 226.12    Special credit card provisions    6652.08
SEC. 226.13    Billing error resolution    6654
SEC. 226.14    Determination of annual percentage rate    6656
SEC. 226.15    Right of rescission    6658
SEC. 226.16    Advertising    6660


Subpart C—Closed-End Credit
SEC. 226.17    General disclosure requirements    6662
SEC. 226.18    Content of disclosures    6664
SEC. 226.19    Certain residential mortgage and variable rate transactions    6666
SEC. 226.20    Subsequent disclosure requirements    6668
SEC. 226.21    Treatment of credit balances    6669
SEC. 226.22    Determination of annual percentage rate    6669
SEC. 226.23    Right of rescission    6670
SEC. 226.24    Advertising    6670.03


Subpart D—Miscellaneous
SEC. 226.25    Record retention       6670.04-B
SEC. 226.26    Use of annual percentage rate in oral disclosures       6670.04-B
SEC. 226.27    Spanish language disclosures       6670.04-B
SEC. 226.28    Effect on state laws       6670.04-B
SEC. 226.29    State exemptions       6670.04-B
SEC. 226.30    Limitation on rates       6670.04-D


Subpart E—Special rules for certain home mortgage transactions
SEC. 226.31    General rules       6670.04-D
SEC. 226.32    Requirements for certain closed-end home mortgages       6670.04-E
SEC. 226.33    Requirements for reverse mortgages       6670.04-G
SEC. 226.34    Prohibited acts or practices in connection with credit secured by a consumer's dwelling       6670.02-H
SEC. 226.35    Prohibited acts or practices in connection with higher-priced mortgage loans       6670.04-I
SEC. 226.36    Prohibited acts or practices in connection with credit secured by a consumer's principal dwelling       6670.04-K
Appendix A—Effect on state laws    6670.05
Appendix B—State exemptions    6671
Appendix C—Issuance of staff interpretations    6671
Appendix D—Multiple advance construction loans    6672
Appendix E—Rules for card issuers that bill on a transaction-bytransaction basis    6674
Appendix F—Annual percentage rate computations for certain open-end credit plans    6675
Appendix G—Open-end model forms and clauses    6676
Appendix H—Closed-end model forms and clauses    6678.12
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Appendix I—Federal enforcement agencies    6678.28
Appendix J—Annual percentage rate computations for closed-end credit transactions    6678.29
Appendix K—Total annual loan cost rate computations for reverse mortgage transactions    6678.39
Appendix L—Assumed loan periods for computations of total annual loan cost rates    6678.45


FEDERAL RESERVE BOARD'S REGULATION M PART 213—CONSUMER LEASING
SEC. 213.1    Authority, scope, purpose, and enforcement    6685
SEC. 213.2    Definitions    6685
SEC. 213.3    General disclosure requirements    6686
SEC. 213.4    Content of disclosures    6687
SEC. 213.5    Renegotiations, extensions, and assumptions    6690
SEC. 213.6    [Reserved] % 
SEC. 213.7    Advertising    6691
SEC. 213.8    Record retention    6692
SEC. 213.9    Relation to state laws    6692.01
Appendix A to Part 213—Model Forms    6693
Appendix B to Part 213—Federal Enforcement Agencies    6699
Appendix C to Part 213—Issuance of Staff Interpretations    6699
Supplement I to Part 213—Official Staff Commentary to Regulation M    6719
  FEDERAL RESERVE BOARD'S TRUTH IN LENDING OFFICIAL STAFF COMMENTARY TO REGULATION Z      6871


[Commentary] Subpart A—General
226.1    Authority, Purpose, Coverage, Organization, Enforcement and Liability    6872.01
226.2    Definitions and Rules of Construction    6873
226.3    Exempt Transactions    6884
226.4    Finance Charge    6886


[Commentary] Subpart B—Open-End Credit
226.5    General Disclosure Requirements    6896
226.6    Initial Disclosure Statement    6902.18
226.7    Periodic Statement    6903
226.8    Identification of Transactions    6906.01
226.9    Subsequent Disclosure Requirements    6908
226.10    Prompt Crediting of Payments    6913
226.11    Treatment of Credit Balances    6914
226.12    Special Credit Card Provisions    6915
226.13    Billing-Error Resolution    6919
226.14    Determination of Annual Percentage Rate    6924
226.15    Right of Rescission    6926.01
226.16    Advertising    6932


[Commentary] Subpart C—Closed-End Credit
226.17    General Disclosure Requirements    6934
226.18    Content of Disclosures    6945
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226.19    Certain Residential Mortgage Transactions and Variable Rate Transactions    6956
226.20    Subsequent Disclosure Requirements    6958.09
226.21    Treatment of Credit Balances    6958.13
226.22    Determination of the Annual Percentage Rate    6958.14
226.23    Right of Rescission    6960
226.24    Advertising    6965


[Commentary] Subpart D—Miscellaneous
226.25    Record Retention    6969
226.26    Use of Annual Percentage Rate in Oral Disclosures    6969
226.27    Spanish Language Disclosures    6970
226.28    Effect on State Laws    6970
226.29    State Exemptions    6975
226.30    Limitation on Rules    6976


[Commentary] Subpart E—Special Rules for Certain Home Mortgage Transactions
226.31    General Rules    6979
226.32    Requirements for Certain Closed-End Home Mortgages    6980
226.33    Requirements for Reverse Mortgages    6982.02
226.34    Prohibited Acts or Practices in Connection with Credit Secured by a Consumer's Dwelling; Open-end Credit    6982.02-A
Appendix A to Part 226—Effect on State Laws    6982.02-C
Appendix B to Part 226—State Exemptions    6982.03
Appendix C to Part 226—Issuance of Staff Interpretations    6982.03
Appendix D to Part 226—Multiple-Advance Construction Loans    6982.03
Appendix E to Part 226—Rules for Card Issuers That Bill on a Transaction-by-Transaction Basis    6982.04
Appendix F to Part 226—Annual Percentage Rate Computations for Certain Open-End Credit Plans    6982.04
Appendix G to Part 226—Open-End Model Forms and Clauses    6982.05
Appendix H to Part 226—Closed-End Model Forms and Clauses    6982.07
Appendix I to Part 226—Federal Enforcement Agencies    6984
Appendix J to Part 226—Annual Percentage Rate Computations for Closed-End Credit Transactions    6984
Appendix K to Part 226—Total Annual Loan Cost Rate Computations for Reverse Mortgage Transactions    6985
Appendix L to Part 226—Assumed Loan Periods for Computations of Total Annual Loan Cost Rates    6985


CIVIL RIGHTS ACT OF 1968—TITLE VIII (FAIR HOUSING)
SEC. 800    Short title    6987
SEC. 801    Policy    6987
SEC. 802    Definitions    6987
SEC. 803    Effective dates of certain prohibitions    6988
SEC. 804    Discrimination in the sale or rental of housing and other prohibited practices    6988.01
SEC. 805    Discrimination in residential real estate-related transactions    6988.03
SEC. 806    Discrimination in the provision of brokerage services    6988.04
SEC. 807    Exemption    6988.04
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SEC. 808    Administration    6988.05
SEC. 808a    Collection of certain data    6988.06
SEC. 809    Education and conciliation    6988.07
SEC. 810    Administrative enforcement; preliminary matters    6988.07
SEC. 811    Subpoenas; giving of evidence    6988.10
SEC. 812    Enforcement by secretary    6988.11
SEC. 813    Enforcement by private persons    6988.14
SEC. 814    Enforcement by the Attorney General    6988.15
SEC. 814a    Incentives for self-testing and self-correction    6988.16
SEC. 815    Rules to implement title    6988.17
SEC. 816    Effect on state laws    6988.18
SEC. 817    Cooperation with state and local agencies administering fair housing laws    6988.18
SEC. 818    Interference, coercion, or intimidation    6988.18
SEC. 819    Appropriations    6988.18
SEC. 820    Separability of provisions    6988.18
SEC. 901    Violations; penalties    6988.19


HOUSING AND COMMUNITY DEVELOPMENT ACT OF 1977—TITLE VIII (COMMUNITY REINVESTMENT)
SEC. 801    Short title    6988.25
SEC. 802    Requirements of financial institutions    6988.25
SEC. 803    Definitions    6988.25
SEC. 804    Examinations by Federal supervisory agencies    6988.26
SEC. 805    Annual report to Congress    6988.27
SEC. 806    Regulations implementing the Act    6988.27
SEC. 807    Written evaluations    6988.27
SEC. 808    Operation of branch facilities by minorities and women    6988.29
SEC. 809    Small bank regulatory relief    6988.29


COMPETITIVE EQUALITY BANKING ACT OF 1987


TITLE XII—MISCELLANEOUS PROVISIONS
SEC. 1204    Adjustable rates mortgage caps    6989


DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT'S REGULATION X


PART 3500—REAL ESTATE SETTLEMENT PROCEDURES ACT
SEC. 3500.1    Designation    6991
SEC. 3500.2    Definitions    6992
SEC. 3500.3    Questions or suggestions from public and copies of public guidance documents    6996
SEC. 3500.4    Reliance upon rule, regulation or interpretation by HUD    6996
SEC. 3500.5    Coverage of RESPA    6997
SEC. 3500.6    Special information booklet at time of loan application    6998
SEC. 3500.7    Good faith estimate    6999
SEC. 3500.8    Use of HUD–1 or HUD–1A settlement statements    7001
SEC. 3500.9    Reproduction of settlement statements    7002
SEC. 3500.10    One-day advance inspection of HUD–1 or HUD–1A settlement statement; delivery; recordkeeping    7003
SEC. 3500.11    Mailing    7004
SEC. 3500.12    No fee    7004
SEC. 3500.13    Relation to state laws    7005
SEC. 3500.14    Prohibition against kickbacks and unearned fees    7005
SEC. 3500.15    Affiliated business arrangements.    7007
SEC. 3500.16    Title companies    7009
SEC. 3500.17    Escrow accounts    7009
SEC. 3500.18    Validity of contracts and liens    7019
SEC. 3500.19    Enforcement    7019
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SEC. 3500.20    [Reserved]    7019
SEC. 3500.21    Mortgage servicing transfers    7020
SEC. 3500.22    Severability    7023
SEC. 3500.23    ESIGN applicability    7023
Appendix A to Part 3500—Instructions for Completing HUD–1 and HUD–1A Settlement Statements; Sample HUD–1 and HUD 1–A Statements    7024
Appendix B to Part 3500—Illustration of Requirements of RESPA    7038
Appendix C to Part 3500—Sample Form of Good Faith Estimate    7042
Appendix D to Part 3500—Affiliated Business Arrangement Disclosure Statement Format    7050.01
Appendix E to Part 3500—Arithmetic Steps    7050.03
Appendix MS-1 to Part 3500—Servicing Disclosure Statement    7050.03
Appendix MS-2 to Part 3500—Notice of Assignment, Sale, or Transfer of Servicing Rights    7050.04
RESPA interpretive rulings    7053


REAL ESTATE SETTLEMENT PROCEDURES ACT OF 1974
SEC.  1    Short title    7071
SEC.  2    Findings and purpose    7071
SEC.  3    Definitions    7071
SEC.  4    Uniform settlement statement    7073
SEC.  5    Special information booklets    7073
SEC.  6    Servicing of mortgage loans and administration of escrow accounts    7074
SEC.  7    Exempted transactions    7079
SEC.  8    Prohibition against kickbacks and unearned fees    7079
SEC.  9    Title companies    7081
SEC. 10    Escrow accounts    7081
SEC. 12    Prohibition of fees for preparation of truth-in-lending, uniform settlement, and escrow account statements    7083
SEC. 13    [Repealed]
SEC. 14    [Repealed]    7083
SEC. 15    [Repealed]    7083
SEC. 16    Jurisdiction of courts    7083
SEC. 17    Validity of contracts and liens    7084
SEC. 18    Relation to State laws    7084
SEC. 19    Authority of the Secretary    7084
SEC. 20    Effective date    7085


NOW ACCOUNTS
SEC. 2    Prohibition on certain activities by depository institutions    7087


FINANCIAL INSTITUTIONS REGULATORY AND INTEREST RATE CONTROL ACT OF 1978


Title XI—Right to Financial Privacy
SEC. 1100    Short title    7091
SEC. 1101    Definitions    7091
SEC. 1102    Confidentiality of records—government authorities    7092
SEC. 1103    Confidentiality of records–financial institutions    7092
SEC. 1104    Customer authorizations    7093
SEC. 1105    Administrative subpena and summons    7093
SEC. 1106    Search warrants    7094
SEC. 1107    Judicial subpena    7094
{{12-31-08 p.6512}}
SEC. 1108    Formal written request    7095
SEC. 1109    Delayed notice—preservation of records    7096
SEC. 1110    Customer challenge provisions    7097
SEC. 1111    Duty of financial institutions    7098
SEC. 1112    Use of information    7098
SEC. 1113    Exceptions    7100
SEC. 1114    Special procedures    7102
SEC. 1115    Cost reimbursement    7104
SEC. 1116    Jurisdiction    7104
SEC. 1117    Civil penalties    7104.01
SEC. 1118    Injunctive relief    7104.01
SEC. 1119    Suspension of Statutes of Limitations    7105
SEC. 1120    Grand Jury Information    7105
SEC. 1121    [Repealed]    7105
SEC. 1122    Securities and Exchange Commission    7106
SEC. 2101    Effective date    7109


DEPARTMENT OF LABOR REGULATIONS:
RESTRICTION ON GARNISHMENT


Part 870—Restriction On Garnishment


SUBPART A—GENERAL
SEC. 870.1    Purpose and scope    7113
SEC. 870.2    Amendments to this part    7113


SUBPART B—DETERMINATIONS AND INTERPRETATIONS
SEC. 870.10    Maximum part of aggregate disposable earnings subject to garnishment    7114
SEC. 870.11    Exceptions to the restrictions provided by section 303(a) of the CCPA and priorities among garnishments    7115


Subpart C—Exemptions for State-Regulated Garnishments
SEC. 870.50    General provision    7116
SEC. 870.51    Exemption policy    7117
SEC. 870.52    Application for exemption of State-regulated garnishments    7117
SEC. 870.53    Action upon an application for exemption    7117
SEC. 870.54    Standards governing the granting of an application for exemption    7118
SEC. 870.55    Terms and conditions of every exemption    7118
SEC. 870.56    Termination of exemption    7118
SEC. 870.57    Exemptions    7118
Federal Trade Commission Trade Regulation Rule Concerning the Preservation of Consumers, Claims and Defenses    7161


FEDERAL TRADE COMMISSION REGULATIONS: STATEMENT OF GENERAL POLICY OR INTERPRETATION


Part 600—Statement of General Policy or Interpretation
SEC. 600.1    Authority and purpose    7179
SEC. 600.2    Legal effect    7179
Appendix—Commentary on the Fair Credit Reporting Act    7179
{{12-31-07 p.6513}}


FDIC RELEASE: QUESTIONS AND ANSWERS REGARDING THE APPLICABILITY OF THE FAIR CREDIT REPORTING ACT TO THE OPERATIONS OF BANKS


Financial Institutions and the Fair Credit Reporting Act
Introduction    7197
I.    The financial institution as a user of consumer reports    7198
II.    The financial institution as a consumer reporting agency    7200
III.    Responsibilities of a financial institution to consumers when it is a consumer reporting agency    7202
IV.    Disputes about material in a consumer reporting agency's file    7203
V.    The financial institution as a purchaser of dealer paper    7204
VI.    Investigative consumer reports    7205
VII.    Responsibilities of a financial institution when it furnishes or uses consumer reports for employment purposes    7205
VIII.    Penalties, liabilities and the Act's effect on State law    7206


FEDERAL RESERVE BOARD'S REGULATION B
PART 202—EQUAL CREDIT OPPORTUNITY
202.1    Authority, scope and purpose    7209
202.2    Definitions    7209
202.3    Limited exceptions for certain classes of transactions    7212
202.4    General rules    7213
202.5    Rules concerning requests for information    7213
202.6    Rules concerning evaluation of applications    7215
202.7    Rules concerning extensions of credit    7216
202.8    Special purpose credit programs    7217
202.9    Notifications    7218
202.10    Furnishing of credit information    7220
202.11    Relation to state law    7220
202.12    Record retention    7221
202.13    Information for monitoring purposes    7222
202.14    Rules on providing appraisal reports    7223
202.15    Incentives for self-testing and self-correction    7223
202.16    Enforcement, penalties and liabilities    7225
Appendix A to Part 202—Federal enforcement agencies    7226
Appendix B to Part 202—Model application forms    7227
Appendix C to Part 202—Sample notification forms    7240
Appendix D to Part 202—Issuance of staff interpretations    7248
Supplement I to Part 202—Official Staff Interpretations    7249


PART 203—HOME MORTGAGE DISCLOSURE (REGULATION C)

203.1    Authority, purpose, and scope    7271
203.2    Definitions    7271
203.3    Exempt institutions    7273
203.4    Compilation of loan data    7274
203.5    Disclosure and reporting    7275
203.6    Enforcement    7276
{{12-31-07 p.6514}}
Appendix A to Part 203—Form and Instructions for Completion of HMDA Loan/Application Register    7276
Appendix B—Form and Instructions for Data Collection on Ethnicity, Race, and Sex    7286.01
Supplement I to Part 203—Staff Commentary    7287


HOME MORTGAGE DISCLOSURE ACT OF 1975
SEC. 301    Short title    7301
SEC. 302    Findings and purposes    7301
SEC. 303    Definitions    7301
SEC. 304    Maintenance of records and public disclosure    7302
SEC. 305    Enforcement    7306
SEC. 306    Relation to State laws    7307
SEC. 307    Research and improved methods    7308
SEC. 308    Study    7308
SEC. 309    Effective date    7308
SEC. 310    Compilation of aggregate data    7309
SEC. 311    Disclosure by the Secretary    7309


FEDERAL RESERVE BOARD'S REGULATION E
PART 205—ELECTRONIC FUND TRANSFERS
SEC. 205.1    Authority and purpose    7361
SEC. 205.2    Definitions    7361
SEC. 205.3    Coverage    7363
SEC. 205.4    General disclosure requirements; jointly offered services    7364.01
SEC. 205.5    Issuance of access devices    7365
SEC. 205.6    Liability of consumer for unauthorized transfers    7366
SEC. 205.7    Initial disclosures    7366.01
SEC. 205.8    Change in terms notice; error resolution notice    7366.01
SEC. 205.9    Receipts at electronic terminals; periodic statements    7367
SEC. 205.10    Preauthorized transfers    7368
SEC. 205.11    Procedures for resolving errors    7369
SEC. 205.12    Relation to other laws    7371
SEC. 205.13    Administrative enforcement; record retention    7372
SEC. 205.14    Electronic fund transfer service provider not holding consumer's account    7373
SEC. 205.15    Electronic fund transfer of government benefits    7374
SEC. 205.16    Disclosures at automated teller machines    7375
SEC. 205.17    [Reserved] % 
SEC. 205.18    Requirements for financial institutions offering payroll card accounts    7376
Appendix A to Part 205—Model Disclosure Clauses and Form    7378
Appendix B to Part 205—Federal Enforcement Agencies    7382.01
Appendix C to Part 205—Issuance of Staff Interpretations    7382.02
Supplement 1 to Part 205—Official Staff Interpretations    7389


PART 227—UNFAIR OR DECEPTIVE ACTS OR PRACTICES
(REGULATION AA)


Subpart A—Consumer Complaints
227.1    Definitions    7409
227.2    Consumer complaint procedure    7409
{{12-31-07 p.6515}}


Subpart B—Credit Practices Rule
227.11    Authority, purpose, and scope    7410
227.12    Definitions    7411
227.13    Unfair credit contract provisions    7411
227.14    Unfair or deceptive practices involving cosigners    7412
227.15    Unfair late charges    7412
227.16    State exemptions    7412
Staff Guidelines on the Credit Practices Rule—Subpart B of Regulation AA    7412.03


PART 229—AVAILABILITY OF FUNDS AND COLLECTION OF CHECKS (REGULATION CC)


Subpart A—General
SEC. 229.1    Authority and purpose; organization    7414
SEC. 229.2    Definitions    7414
SEC. 229.3    Administrative enforcement    7418.02


Subpart B—Availability of Funds and Disclosure of Funds Availability Policies
SEC. 229.10    Next-day availability    7418.03
SEC. 229.11    [Reserved]
SEC. 229.12    Availability schedule    7418.04
SEC. 229.13    Exceptions    7418.05
SEC. 229.14    Payment of interest    7418.08
SEC. 229.15    General disclosure requirements    7418.08
SEC. 229.16    Specific availability policy disclosure    7418.09
SEC. 229.17    Initial disclosures    7418.10
SEC. 229.18    Additional disclosure requirements    7418.10
SEC. 229.19    Miscellaneous    7418.11
SEC. 229.20    Relation to state law    7418.12
SEC. 229.21    Civil liability    7418.13


Subpart C—Collection of Checks
SEC. 229.30    Paying bank's responsibility for return of checks    7418.14
SEC. 229.31    Returning bank's responsibility for return of checks    7418.16
SEC. 229.32    Depositary bank's responsibility for returned checks    7418.17
SEC. 229.33    Notice of nonpayment    7418.18
SEC. 229.34    Warranties    7418.19
SEC. 229.35    Indorsements    7418.20
SEC. 229.36    Presentment and issuance of checks    7418.21
SEC. 229.37    Variation by agreement    7418.22
SEC. 229.38    Liability    7418.22
SEC. 229.39    Insolvency of bank    7418.22-A
SEC. 229.40    Effect of merger transaction    7418.22-B
SEC. 229.41    Relation to state law    7418.22-B
SEC. 229.42    Exclusions    7418.22-B
SEC. 229.43    Checks payable to Guam, American Samoa, and the Northern Mariana Islands    7418.22-B
SEC. 229.51    General Provisions governing substitute checks    7418.22-C
SEC. 229.52    Substitute check warranties    7418.22-C
SEC. 229.53    Substitute check indemnity    7418.22-D
SEC. 229.54    Expedited recredit for consumers    7418.22-E
{{12-31-07 p.6516}}
SEC. 229.55    Expedited recredit for banks    7418.22-H
SEC. 229.56    Liability    7418.22-I
SEC. 229.57    Consumer awareness    7418.22-J
SEC. 229.58    Mode of delivery of informaiton    7418.22-J
SEC. 229.59    Relation to other law    7418.22-J
SEC. 229.60    Variation by agreement    7418.22-K
Appendix A to Part 229—Routing Number Guide to Next-Day Availability Checks and Local Checks    7418.22-K
Appendix B to Part 229—Reduction of Schedules for Certain Nonlocal Checks    7418.26
Appendix C to Part 229—Model Availability Policy Disclosures, Clauses, and Notices; Model Substitute Check Policy Disclosures and Notices    7418.27
Appendix D to Part 229—Indorsement, Reconverting Bank Identification, and Truncating Bank Identification Standards    7418.38
Appendix E to Part 229—Commentary    7418.40
Appendix F to Part 229—Official Board Interpretations; Preemption Determinations    7418.110-N
Board Policy Statement on Delayed Disbursement of Teller's Checks and Cashier's Checks    7418.124


COMPETITIVE EQUALITY BANKING ACT OF 1987


TITLE I—FINANCIAL INSTITUTIONS COMPETITIVE EQUALITY
Sec. 101    Amendments to the Bank Holding Company Act of 1956    7421


TITLE II—MORATORIUM ON CERTAIN NONBANKING ACTIVITIES
Sec. 201    Moratorium on certain nonbanking activities    7422
Sec. 202    Authority of federal banking agencies    7423


TITLE VI—EXPEDITED FUNDS AVAILABILITY
Sec. 601    Short title    7424
Sec. 602    Definitions    7424
Sec. 603    Expedited funds availability schedules    7425
Sec. 604    Safeguard exceptions    7428
Sec. 605    Disclosure of funds availability policies    7428.03
Sec. 606    Payment of interest    7428.04
Sec. 607    Miscellaneous provisions    7428.04
Sec. 608    Effect on state law    7428.05
Sec. 609    Regulations and reports by Board    7428.05
Sec. 610    Administrative enforcement    7428.07
Sec. 611    Civil liability    7428.08
Sec. 613    Effective dates    7428.09


FEDERAL RESERVE BOARD'S REGULATION DD
PART 230—TRUTH IN SAVINGS
SEC. 230.1    Authority, purpose, coverage, and effect on state laws    7429
SEC. 230.2    Definitions    7429
SEC. 230.3    General disclosure requirements    7431
SEC. 230.4    Account disclosures    7431
SEC. 230.5    Subsequent disclosures    7433
SEC. 230.6    Periodic statement disclosures    7434
SEC. 230.7    Payment of interest    7434
SEC. 230.8    Advertising    7435
SEC. 230.9    Enforcement and record retention    7436
SEC. 230.10    [Reserved] % 
SEC. 230.11    Additional disclosure requirements for institutions advertising the payment of overdrafts    7436.01
{{2-29-08 p.6517}}
Appendix A—Annual percentage yield calculation    7436.03
Appendix B—Model clauses and sample forms    7442
Appendix C—Effect on state laws    7454
Appendix D—Issuance of staff interpretations    7454
Supplement I to Part 230—Official Staff Interpretations    7459


FEDERAL DEPOSIT INSURANCE CORPORATION IMPROVEMENT ACT OF 1991


Title II—Regulatory Improvement


Subtitle F—Truth in Savings
SEC. 261.    Short Title    7477
SEC. 262.    Findings and Purpose    7477
 (a)    Findings    7477
 (b)    Purpose    7477
SEC. 263.    Disclosure of Interest Rates and Terms of Accounts
 (a)    In general    7477
 (b)    Broadcast and electronic media and outdoor advertising exception    7478
 (c)    Disclosure required for on-premise displays    7478
 (d)    Misleading description of free or no-cost accounts prohibited    7478
 (e)    Misleading or inaccurate advertisements, etc., prohibited    7478
SEC. 264.    Account Schedule
 (a)    In general    7479
 (b)    Information on fees and changes    7479
 (c)    Information on interest rates    7479
 (d)    Other information    7480
 (e)    Style and format    7480
SEC. 265.    Disclosure Requirements for Certain Accounts    7480
SEC. 266.    Distribution of Schedules
 (a)    In general    7480
 (b)    Distribution in case of certain initial deposits    7480
 (c)    Distribution of notice of certain changes    7481
 (d)    Distribution in case of accounts established by more than 1 individual or by a group    7481
 (e)    Notice to account holders as of the effective date of regulations    7481
SEC. 267.    Payment of Interest
 (a)    Calculated on full amount of principal    7481
 (b)    No particular method of compounding interest required    7482
 (c)    Date by which interest must accrue    7482
SEC. 268.    Periodic Statements    7482
SEC. 269.    Regulations
 (a)    In general    7482
 (b)    Model forms and clauses    7483
SEC. 270.    Administrative Enforcement
 (a)    In general    7483
 (b)    Additional enforcement powers    7483
 (c)    Regulations by agencies other than the Board    7484
SEC. 271.    [Repealed]
SEC. 272.    Credit Unions
 (a)    In general    7487
 (b)    Regulations prescribed by the NCUA    7487
SEC. 273.    Effect on State Law    7487
SEC. 274.    Definitions    7487
{{2-29-08 p.6518}}


RIEGLE-NEAL INTERSTATE BANKING AND BRANCHING EFFICIENCY ACT OF 1994
SEC. 1    Short title; table of contents    7491
SEC. 107    Equalizing competitive opportunities for United States and foreign banks    7491
SEC. 109    Prohibition against deposit production offices    7492
SEC. 111    Restatement of existing law    7493
SEC. 112    GAO report on data collection under interstate branching    7494
SEC. 210    Study and report on the United States financial services system    7494


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