, 64565-64566 [E9-28596]

Agencies

• FEDERAL RESERVE SYSTEM

[Federal Register Volume 74, Number 233 (Monday, December 7, 2009)]
[Rules and Regulations]
[Pages 64565-64566]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E9-28596]


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Part XVIII





Federal Reserve System





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Semiannual Regulatory Agenda

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FEDERAL RESERVE SYSTEM (FRS)






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FEDERAL RESERVE SYSTEM

12 CFR Ch. II

Semiannual Regulatory Flexibility Agenda

AGENCY: Board of Governors of the Federal Reserve System.

ACTION: Semiannual regulatory agenda.

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SUMMARY: The Board is issuing this agenda under the Regulatory 
Flexibility Act and the Board's Statement of Policy Regarding Expanded 
Rulemaking Procedures. The Board anticipates having under consideration 
regulatory matters as indicated below during the period November 1, 
2009, through April 30, 2010. The next agenda will be published in 
spring 2010.

DATES: Comments about the form or content of the agenda may be 
submitted any time during the next six months.

ADDRESSES: Comments should be addressed to Jennifer J. Johnson, 
Secretary of the Board, Board of Governors of the Federal Reserve 
System, Washington, DC 20551.

FOR FURTHER INFORMATION CONTACT: A staff contact for each item is 
indicated with the regulatory description below.

SUPPLEMENTARY INFORMATION: The Board is publishing its fall 2009 agenda 
as part of the Fall 2009 Unified Agenda of Federal Regulatory and 
Deregulatory Actions, which is coordinated by the Office of Management 
and Budget under Executive Order 12866. The agenda also identifies 
rules the Board has selected for review under section 610(c) of the 
Regulatory Flexibility Act, and public comment is invited on those 
entries. The complete Unified Agenda will be available to the public at 
the following web site: www.reginfo.gov. Participation by the Board in 
the Unified Agenda is on a voluntary basis.

    The Board's agenda is divided into three sections. The first, 
Proposed Rule Stage, reports on matters the Board may consider for 
public comment during the next six months. The second section, 
Final Rule Stage, reports on matters that have been proposed and 
are under Board consideration. And a third section, Completed 
Actions, reports on regulatory matters the Board has completed or 
is not expected to consider further. Matters begun and completed 
between issues of the agenda have not been included.

    A dot () preceding an entry indicates a new matter that 
was not a part of the Board's previous agenda and which the Board 
has not completed.

 Margaret McCloskey Shanks,

Associate Secretary of the Board.

                                   Federal Reserve System--Proposed Rule Stage
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                                                                                                     Regulation
 Sequence                                           Title                                            Identifier
  Number                                                                                               Number
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570         Regulation Z--Truth in Lending Act (Docket Number: R-1366)............................    7100-AD33
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Federal Reserve System (FRS)                        Proposed Rule Stage






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570.  REGULATION Z--TRUTH IN LENDING ACT (DOCKET 
NUMBER: R-1366)

Legal Authority: 15 USC 1601 et seq

Abstract: The Federal Reserve proposed for comment amendments to 
Regulation Z (Truth in Lending) that would revise disclosure 
requirements for closed-end loans secured by real property or a 
dwelling. The proposed rules would require creditors to provide certain 
disclosures at application about risky loan features and adjustable-
rate mortgages. Three days after application, consumers would receive 
disclosures summarizing key loan features including the annual 
percentage rate and finance charge, which would be revised to be a more 
comprehensive measure of the cost of credit. Consumers would receive a 
final disclosure of loan terms three days before loan consummation. 
Certain new periodic disclosures would be required after consummation. 
In addition, the proposal would prohibit certain payments to mortgage 
brokers and loan officers that are based on the loan's terms and 
conditions, and prohibit steering consumers to transactions that are 
not in their interest to increase compensation received. New rules 
regarding eligibility restrictions and disclosures for credit insurance 
and similar products would apply to all closed-end and open-end credit 
transactions.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

Board Requested Comment         08/26/09                    74 FR 43232
Board Expects Further Action By 12/00/09

Regulatory Flexibility Analysis Required: Yes

Agency Contact: Kathleen Ryan, Counsel, Federal Reserve System, 
Division of Consumer and Community Affairs
Phone: 202 452-3667

RIN: 7100-AD33
[FR Doc. E9-28596 Filed 12-04-09; 8:45 am]
BILLING CODE 6710-01-S