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District Circular Letters

December 31, 1999

BANKING SUPERVISION AND REGULATION: PUBLIC COMMENT PERIOD EXTENDED

To Member and Nonmember Banks,
Bank Holding Companies, and
Others Concerned
in the Twelfth Federal Reserve District

Extension of Comment Period

The Federal Reserve Board has reopened and extended the comment period on proposals to allow electronic delivery of federally mandated disclosures. On September 14, 1999, the Board published revised proposals for public comment under five consumer protection regulations: B (Equal Credit Opportunity), E (Electronic Fund Transfers), M (Consumer Leasing), Z (Truth in Lending), and DD (Truth in Savings).

The Board has reopened and extended the comment period in order to obtain views from individual consumers through focus group interviews. Although the comment period is being extended primarily for the purpose of conducting these focus groups, other members of the public may also submit comments during this period. Comment is requested by March 3, 2000. Final action on the proposals is expected in March, shortly after the close of the public comment period.

Copies

Copies of the Board's proposals (Dockets R-1040 through R-1044) are available from our Corporate Services Department. To request copies to be sent via mail, please call (415) 974-2060. To request copies to be sent via fax, please call (415) 974-3333, and specify the appropriate document numbers, as follows:

  • Docket R-1040 Regulation B (Equal Credit Opportunity Act) Electronic Disclosures 4135
  • Docket R-1041 Regulation E (Electronic Fund Transfers Act) Electronic Disclosures 4136
  • Docket R-1042 Regulation M (Consumer Leasing) Electronic Disclosures 4137
  • Docket R-1043 Regulation Z (Truth-in-Lending Act) Electronic Disclosures 4138
  • Docket R-1044 Regulation DD (Truth-in-Savings Act) Electronic Disclosures 4139

Board notices are also available via the Federal Reserve Bank of San Francisco's Internet site, at http://www.frbsf.org/banking/bsr/regletters/.

Additional Information

For additional information regarding the FCRA or examination procedures, please contact Mr. Gregory Imm, Consumer Compliance Liaison, at (415) 974-2953, or Ms. Christiane Price, Consumer Compliance Liaison, at (415) 974-2955, both of our Banking Supervision and Regulation Department.

FEDERAL RESERVE BANK OF SAN FRANCISCO