regulatory developments
2010:;Credit-related
February■ 5,■2010 interagency (federal financial regulatory agencies and the conference of State
Bank Supervisors) statement on prudent lending to creditworthy small business borrowers.
www.federalreserve.gov/newsevents/press/bcreg/20100205a.htm
Note: The statement builds upon principles in existing guidance, including the Interagency
Statement on Meeting the Needs of Creditworthy Borrowers issued in November 2008 and the
Policy Statement on Prudent Commercial Real Estate Loan Workouts issued in October 2009.
January■ 12,■2010 rules to protect credit card users from a number of costly practices including
bans on several harmful practices.
www.federalreserve.gov/newsevents/press/bcreg/20100112a.htm
Note: The final rule is the second stage of the rule writing for the Credit Card Accountability
Responsibility and Disclosure Act of 2009 (Credit CARD Act). It finalizes the interim rule that was
effective August 20, 2009 as well as the provisions of the Credit CARD Act that go into effect on
February 22, 2010.
*the Federal reserve is withdrawing the January 2009 regulation Z rule. however, to the
extent consistent with the credit cArD Act, the Board has retained the July 1, 2010 mandatory
compliance date for many of the provisions incorporated from the January 2009 regulation Z
rule.
in addition, the substantive requirements in the January 2009 regulation AA rule, effective on
July 1, 2010, have been superseded by provisions of the credit cArD Act that go into effect on
February 22, 2010.
Comment
due date
Final
effective
date
Mandatory
Compliance
date
To do
X
2-5-10
X
2-22-10
2-22-10*
Selected
provisions
7-1-10
remaining
provisions
2010:;Deposit/operations;related
None.
2010:;other
None.
selected;2008;and;2009;Proposals;outstanding;in;2010
november■ 16,■2009■rules to restrict fees and expiration dates on gift cards amend regulation e
to implement the gift card provisions of the credit cArD Act of 2009.
www.federalreserve.gov/newsevents/press/bcreg/bcreg20091116a1.pdf
12-21-09
october■ 22,■2009 Guidance regarding incentive compensation policies of banking organizations.
http://edocket.access.gpo.gov/2009/pdf/e9-25766.pdf
11-27-09
July■ 23,■2009 changes to regulation Z to improve the disclosures consumers receive in
connection with closed-end mortgages and home-equity lines of credit
www.federalreserve.gov/newsevents/press/bcreg/bcreg20090723a1.pdf
http://edocket.access.gpo.gov/2009/pdf/e9-18121.pdf
http://edocket.access.gpo.gov/2009/pdf/e9-18119.pdf
Note: Rules include model forms and sample disclosures. Also, the Federal Reserve Board will
work with HUD to make the TILA disclosures and HUD’s RESPA disclosures, complementary.
12-24-09
June■ 24,■2009 interagency revisions to regulations implementing the community reinvestment
Act to consider low-cost education loans provided to low-income borrowers in crA assessments
www.federalreserve.gov/newsevents/press/bcreg/20090624a.htm
7-30-09
June■ 1,■2009 interagency rule to implement S.A.F.e. Act mortgage loan originator registration
requirements
www.federalreserve.gov/newsevents/press/bcreg/20090601a.htm
7-9-09
november■ 13,■2008 interagency Appraisal and evaluation Guidelines to clarify risk management
principles and internal controls for financial institutions.
www.federalreserve.gov/newsevents/press/bcreg/bcreg20081113a1.pdf
1-20-09
regulatory Developments cutoff Date: February 15, 2010 please note the Major regulatory Developments list does not include routine announcements such as
hMDA data availability, Federal reserve check processing consolidations impacting regulation cc hold schedules, regulation Z high cost trigger changes. please
refer to www.federalreserve.gov/newsevents/press/all/2010all.htm for these updates.
