regulatory;Development;table
regulatory developments
comment
due date
Final
effective
date
Mandatory
compliance
date
to do
2010:;Credit-related
march 11, 2010 Revisions to interagency Questions and Answers (Q&As) Regarding
community Reinvestment to adopt:
A new question that provides examples of how to demonstrate that community development
services meet the criteria of serving low-and moderate-income areas and people.
two revised Q&As to enable consideration of a pro rata share of mixed-income affordable housing
projects as community development projects.
www.ffiec.gov/cra/pdf/2010-4903.pdf
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 Borrowers2 issued in November 2008 and the
Policy Statement on Prudent Commercial Real Estate Loan Workouts3 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July 1, 2010, have been superseded by provisions of the credit card Act that go into effect on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.
march 3, 2010 Rules amending Regulation Z (truth in Lending) to protect credit card users
from unreasonable late payment and other penalty fees and to require credit card issuers to
reconsider increases in interest rates.
www.federalreserve.gov/newsevents/press/bcreg/20100303a.htm
Note: the proposed rule represents the third stage of the implementation of the credit card
Accountability Responsibility and Disclosure Act of 2009 (credit card Act), which was enacted
in May 2009. the provisions of the credit card Act addressed in this proposal will go into effect
on August 22, 2010.
X
3-11-10
NA
X
2-5-10
NA
X
2-22-10
2-22-10*
selected
provisions
7-1-10
5-14-10
2010:;Deposit/operations;relate
march 23, 2010 Rules amending Regulation E to restrict fees and expiration dates on gift
cards to protect consumers from certain unexpected costs and require terms and conditions
be clearly stated.
www.federalreserve.gov/newsevents/press/bcreg/20100323a.htm
February 19, 2010 clarification to November 2009 final overdraft rules under Regulations E and
DD to address questions and provide further guidance regarding the prohibition in Regulation E
on assessing overdraft fees without the consumer’s affirmative consent
www.federalreserve.gov/newsevents/press/bcreg/20100219a.htm
X
8-22-10 8- 22-10.
3- 31-10
2010:;other
march 5, 2010 Bank secrecy Act interagency Guidance on Beneficial ownership to, among
other things, clarify and consolidate existing regulatory expectations for obtaining beneficial
ownership information as part of the customer due diligence (cDD) and enhanced due diligence
(EDD) processes related to certain accounts and customer relationships.
www.fdic.gov/news/news/financial/2010/fil10008.html
X
3-5-10
