National Credit Union Administration May 5, 2009 – Federal Register Recent Federal Regulation Documents

Unfair or Deceptive Acts or Practices; Clarifications
Document Number: E9-9861
Type: Proposed Rule
Date: 2009-05-05
Agency: National Credit Union Administration, Agencies and Commissions, Department of the Treasury, Office of Thrift Supervision, Federal Reserve System
In December 2008, the Board, OTS, and NCUA (collectively, the Agencies) exercised their authority under the Federal Trade Commission Act to issue a final rule prohibiting institutions from engaging in specific acts or practices in connection with consumer credit card accounts. The Agencies understand that clarification is needed regarding certain aspects of the final rule. Accordingly, in order to facilitate compliance, the Agencies propose to amend specific portions of the regulations and official staff commentary.