Federal Reserve System July 20, 2011 – Federal Register Recent Federal Regulation Documents

Formations of, Acquisitions by, and Mergers of Bank Holding Companies
Document Number: 2011-18283
Type: Notice
Date: 2011-07-20
Agency: Federal Reserve System, Agencies and Commissions
Change in Bank Control Notices; Acquisitions of Shares of a Bank or Bank Holding Company
Document Number: 2011-18282
Type: Notice
Date: 2011-07-20
Agency: Federal Reserve System, Agencies and Commissions
Regulation Z; Truth in Lending
Document Number: 2011-18215
Type: Rule
Date: 2011-07-20
Agency: Federal Reserve System, Agencies and Commissions
The Board is publishing final revisions to the official staff commentary to Regulation Z, which implements the Truth in Lending Act (TILA). The commentary applies and interprets the requirements of Regulation Z. The Board is revising the commentary so that it accurately reflects the effective date of a final rule on loan originator compensation practices that was published in the Federal Register on September 24, 2010. At the time the final rule on loan originator compensation was issued, the Board intended it to become effective on April 1, 2011. However, on March 31, 2011, the United States Court of Appeals for the District of Columbia Circuit entered an administrative stay to temporarily delay implementation of the final rule. The administrative stay was in effect from April 1, 2011, until it was dissolved on April 5, 2011. Accordingly, the commentary is being revised to reflect that compliance with the final rule on loan originator compensation was not mandatory until April 6, 2011.
Debit Card Interchange Fees and Routing
Document Number: 2011-16861
Type: Rule
Date: 2011-07-20
Agency: Federal Reserve System, Agencies and Commissions
The Board is publishing a final rule, Regulation II, Debit Card Interchange Fees and Routing. This rule implements the provisions of Section 920 of the Electronic Fund Transfer Act, including standards for reasonable and proportional interchange transaction fees for electronic debit transactions, exemptions from the interchange transaction fee limitations, prohibitions on evasion and circumvention, prohibitions on payment card network exclusivity arrangements and routing restrictions for debit card transactions, and reporting requirements for debit card issuers and payment card networks. An interim final rule, with a request for comment, on standards for receiving a fraud-prevention adjustment to interchange transaction fees is published separately in the Federal Register.
Debit Card Interchange Fees and Routing
Document Number: 2011-16860
Type: Rule
Date: 2011-07-20
Agency: Federal Reserve System, Agencies and Commissions
The Board is adopting an interim final rule and requesting comment on provisions in Regulation II (Debit Card Interchange Fees and Routing) adopted in accordance with Section 920(a)(5) of the Electronic Fund Transfer Act, which governs adjustments to debit interchange transaction fees for fraud-prevention costs. The provisions allow an issuer to receive an adjustment of 1 cent to its interchange transaction fee if the issuer develops, implements, and updates policies and procedures reasonably designed to identify and prevent fraudulent electronic debit transactions; monitor the incidence of, reimbursements received for, and losses incurred from fraudulent electronic debit transactions; respond appropriately to suspicious electronic debit transactions so as to limit the fraud losses that may occur and prevent the occurrence of future fraudulent electronic debit transactions; and secure debit card and cardholder data. If an issuer meets these standards and wishes to receive the adjustment, it must certify its eligibility to receive the fraud-prevention adjustment to the payment card networks in which the issuer participates.