District Circular Letters

The federal bank and thrift regulatory agencies announced on June 17, 2010 a proposed change to the Community Reinvestment Act (CRA) regulations to support stabilization of communities affected by high foreclosure levels. The proposed change specifically would encourage depository institutions to support the Neighborhood Stabilization Program (NSP) administered by the U.S. Department of Housing and […]

The Federal Reserve Board has named Maeve Elise Brown, Executive Director of Housing and Economic Rights Advocates (HERA) in Oakland, California, to fill a vacancy on its Consumer Advisory Council.

The Federal Reserve Board approved a final rule on June 15, 2010 to protect credit card users from unreasonable late payment and other penalty fees and to require credit card issuers to reconsider interest rate increases imposed since the beginning of last year.

The Federal Reserve has scheduled three small-value auctions of term deposits through its Term Deposit Facility (TDF) over the next two months. These auctions are a matter of prudent planning and have no implications for the near-term conduct of monetary policy.

Six federal agencies are seeking comment on a proposed rule that would require sponsors of asset-backed securities (ABS) to retain at least 5 percent of the credit risk of the assets underlying the securities and would not permit sponsors to transfer or hedge that credit risk.

Consumer credit card agreements from more than 300 credit card issuers are now online in a searchable database created by the Federal Reserve Board. The agreements contain general credit terms and conditions along with pricing and fee information. The database will help consumers compare credit card agreements and find a card that best suits their […]

The Federal Reserve Board announced on June 3, 2010 that the Consumer Advisory Council will hold its next meeting on Thursday, June 17. The meeting will take place in Dining Room E, Terrace Level, in the Board’s Martin Building. The session will begin at 9:00 a.m. and is open to the public. For security purposes, […]

The Federal Reserve Board announced on May 28, 2010 final clarifications to aspects of its November 2009 final rule under Regulation E (Electronic Fund Transfers) and its December 2008 final rule under Regulation DD (Truth in Savings) pertaining to overdraft services.

The federal financial regulatory agencies issued final guidance on April 30, 2010 to address the risks associated with funding and credit concentrations arising from correspondent relationships.

The Federal Reserve Board announced on April 23, 2010 that it will hold four public hearings, beginning in July, on potential revisions to Regulation C, which implements the Home Mortgage Disclosure Act. The act requires mortgage lenders to provide detailed annual reports of their mortgage lending activity to regulators and the public. Consumers, community and […]