, 21949-21950 [2010-8941]

Download as PDF Monday, April 26, 2010 Part XIX Federal Reserve System erowe on DSK5CLS3C1PROD with PROPOSALS Semiannual Regulatory Agenda VerDate Nov<24>2008 12:38 Apr 23, 2010 Jkt 220001 PO 00000 Frm 00001 Fmt 4717 Sfmt 4717 E:\FR\FM\26APP19.SGM 26APP19 21950 Federal Register / Vol. 75, No. 79 / Monday, April 26, 2010 / Unified Agenda FEDERAL RESERVE SYSTEM (FRS) Comments should be addressed to Jennifer J. Johnson, Secretary of the Board, Board of Governors of the Federal Reserve System, Washington, DC 20551. ADDRESSES: FEDERAL RESERVE SYSTEM 12 CFR Ch. II Semiannual Regulatory Flexibility Agenda AGENCY: Board of Governors of the Federal Reserve System. ACTION: Semiannual regulatory agenda. FOR FURTHER INFORMATION CONTACT: A staff contact for each item is indicated with the regulatory description below. The Board is publishing its spring 2010 agenda as part of the spring 2010 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 website: www.reginfo.gov. Participation SUPPLEMENTARY INFORMATION: 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 May 1, 2010, through October 31, 2010. The next agenda will be published in fall 2010. DATES: Comments about the form or content of the agenda may be submitted any time during the next 6 months. SUMMARY: 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 6 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 Sequence Number Title Regulation Identifier Number 410 Regulation Z—Truth in Lending Act (Docket Number: R-1366) ................................................................................... 7100–AD33 Federal Reserve System (FRS) Proposed Rule Stage 410. REGULATION Z—TRUTH IN LENDING ACT (DOCKET NUMBER: R–1366) erowe on DSK5CLS3C1PROD with PROPOSALS 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 VerDate Nov<24>2008 12:38 Apr 23, 2010 Jkt 220001 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. PO 00000 Frm 00002 Fmt 1254 Sfmt 1254 Timetable: Action Date FR Cite Board Requested 08/26/09 74 FR 43232 Comment Board Expects Further 05/00/10 Action By 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. 2010–8941 Filed 04–23–10; 8:45 am] BILLING CODE 6210–01–S E:\FR\FM\26APP19.SGM 26APP19

Agencies

[Federal Register Volume 75, Number 79 (Monday, April 26, 2010)]
[Unknown Section]
[Pages 21949-21950]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2010-8941]


[[Page 21949]]

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Part XIX





Federal Reserve System





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###Semiannual Regulatory Agenda###

[[Page 21950]]

FEDERAL RESERVE SYSTEM (FRS)

_______________________________________________________________________

FEDERAL RESERVE SYSTEM

12 CFR Ch. II

Semiannual Regulatory Flexibility Agenda

AGENCY: Board of Governors of the Federal Reserve System.

ACTION: Semiannual regulatory agenda.

_______________________________________________________________________

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 May 1, 2010, 
through October 31, 2010. The next agenda will be published in fall 
2010.

DATES: Comments about the form or content of the agenda may be 
submitted any time during the next 6 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 spring 2010 
agenda as part of the spring 2010 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 website: 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 6 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
----------------------------------------------------------------------------------------------------------------
                                                                                                     Regulation
 Sequence                                           Title                                            Identifier
  Number                                                                                               Number
----------------------------------------------------------------------------------------------------------------
410         Regulation Z--Truth in Lending Act (Docket Number: R-1366)............................    7100-AD33
----------------------------------------------------------------------------------------------------------------

_______________________________________________________________________
Federal Reserve System (FRS)                        Proposed Rule Stage

_______________________________________________________________________

410. 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 05/00/10

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. 2010-8941 Filed 04-23-10; 8:45 am]
BILLING CODE 6210-01-S