Office of Thrift Supervision January 29, 2009 – Federal Register Recent Federal Regulation Documents

Unfair or Deceptive Acts or Practices
Document Number: E8-31186
Type: Rule
Date: 2009-01-29
Agency: Federal Reserve System, Agencies and Commissions, National Credit Union Administration, Department of the Treasury, Office of Thrift Supervision
The Board, OTS, and NCUA (collectively, the Agencies) are exercising their authority under section 5(a) of the Federal Trade Commission Act to prohibit unfair or deceptive acts or practices. The final rule prohibits institutions from engaging in certain acts or practices in connection with consumer credit card accounts. The final rule relates to other Board rules under the Truth in Lending Act, which are published elsewhere in today's Federal Register. Because the Board has proposed new rules regarding overdraft services for deposit accounts under the Electronic Fund Transfer Act elsewhere in today's Federal Register, the Agencies are not taking action on overdraft services at this time. A secondary basis for OTS's rule is the Home Owners' Loan Act.
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