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FDIC Law, Regulations, Related Acts

FEDERAL DEPOSIT INSURANCE CORPORATION     [Main Tabs]     [Index]     [Previous Page]     [Search] FEDERAL DEPOSIT INSURANCE CORPORATION REPORT BULLETIN NO. 11 October 31, 2008 550 Seventeenth Street, N.W. Washington, D.C. 20429 Order printed copies Supplement Highlights Supplement Highlights * Processing of Deposit Accounts in Event of an Insured Depository Institution Failure. The FDIC adopted an interim rule establishing the FDIC's practices for determining deposit and other liability account balances at a failed insured depository institution. 73 Fed. Reg. 41170, July 17, 2008. See pages 3087--3088.29 * Large-Bank Deposit Insurance Determination Modernization. The FDIC adopted a final rule requiring the largest insured depository institutions to adopt mechanisms that would, in the event of the institution's failure: provide the FDIC with standard deposit account and other customer information; and allow the placement and release holds on liability accounts, including deposits. This final rule only applies to insured depository institutions having at least $2 billion in domestic deposits and either: more than 250,000 deposit accounts (currently estimated to be 152 institutions); or total assets over $20 billion, regardless of the number of deposit accounts (currently estimated to be 7 institutions). 73 Fed. Reg. 41180, July 17, 2008. See pages 3087--3088.29 * Availability of Funds and Collection of Checks. The Board of Governors amended appendix A of Regulation CC to delete the reference to the Windsor Locks office of the Federal Reserve Bank of Boston and to reassign the Federal Reserve routing symbols currently listed under that office to the head office of the Federal Reserve Bank of Philadelphia. 73 Fed. Reg. 41236, July 18, 2008. See pages 7418.23--7418.26 Truth and Lending. The Board published its final rules amending Regulation Z, which implements the Truth in Lending Act and Home Ownership and Equity Protection Act. The goals of the amendments are to protect consumers in the mortgage market from unfair, abusive, or deceptive lending and servicing practices while preserving responsible lending and sustainable homeownership; ensure that advertisements for mortgage loans provide accurate and balanced information and do not contain misleading or deceptive representations; and provide consumers transaction specific disclosures early enough to use while shopping for a mortgage. 73 Fed. Reg. 44522, July 30, 2008. See pages 6641--6646, 6659--6670.04-L, 6871--6874.01, 6881--6882.01, 6937--6940, 6944.01--6944.02 * Fair Housing and Nondiscrimination on the Basis of Disability. The FDIC amended two regulations, following recent review, to update FDIC addresses contained in its regulations. First, the FDIC is updating the division name and address information in the Equal Housing Lender poster set forth in its fair housing regulation. Second, the FDIC is updating the address and telephone contact information for the FDIC's Office of Diversity and Economic Opportunity (ODEO) set forth in its regulation on nondiscrimination on the basis of disability. 73 Fed. Reg. 45854, August 7, 2008. See pages 2649--2650 and 2947--2949 * Truth in Lending. The Board of Governors published a final rule amending the staff commentary that interprets requirements of Regulation Z (truth in Lending). The Board is required to adjust annually the dollar amount that triggers requirements for certain home mortgage loans bearing fees above a certain amount. 73 Fed. Reg. 46190, August 8, 2008. See pages 6871--6874.01, 6881--6882.01, 6937--6944.02, 7418.22-K     [Main Tabs]     [Index]     [Next Page]     [Search]