Regulation
B
2011*
✘
B
B
2010*
✘
✘
✘
✘
Z
✘
Z
TABLE 1: Interagency Profile of Frequent Violations—Lending Regulations
Description of Provision Violated
notify applicant within 30 days of completed application of approval counteroffer or adverse action
prohibition against requiring a borrower to obtain the signature of a spouse or other person in order to
be considered for credit approval
collect information for monitoring purposes about the race, ethnicity, sex, marital status, and age of
applicants, seeking credit primarily for the purchase or refinancing of a principal residence
provide a good faith estimate of the required disclosures before confirmation, or not later than three
business days after receipt of the loan application for certain residential mortgage transactions
accurate disclosure of the annual percentage rate (apr) in closed-end credit transactions
Z
Z
accurate disclosure of the finance charge in closed-end credit transactions
provide complete and accurate disclosures for open-end credit secured by a consumer’s dwelling
(home equity plans).
✘
✘
✘
✘
✘
Aa provide a clear and conspicuous disclosure regarding a cosigner’s liability for a debt ✘
Aa
(UDAP)
avoid inaccurate advertising or misrepresenting services, contracts, investments, or financial
conditions ✘
Aa
(UDAP) avoid participating in unfair or deceptive acts or practices ✘
*exam data reporting periods are as follows: 2010 annual report —July 1, 2009 through June 30, 2010; 2011 annual report—July 1, 2010 through June 30, 2011
source: annual report of the Board of governors of the Federal reserve system
www.Federalreserve.gov/boarddocs/rptcongress/
Regulation
E
2011*
E
E
P
P
TABLE 2: Interagency Profile of Frequent Violations—Deposit/Operations Regulations
Description of Provision Violated 2010*
provide initial disclosures at the time a consumer contracts for an electronic fund transfer service that
contain required information, including limitations on the types of transfers permitted ✘
credit the customer’s account in the amount of the alleged error within ten business days of receiving
the error notice if more time is needed to conduct the investigation ✘
When no error occurred provide a written explanation and note the consumer’s right to request
documentation supporting the institution’s findings ✘
provide a clear and conspicuous initial privacy notice to customers that accurately reflects the
institution’s privacy policies and practices not later than when the customer relationship is established
disclose the institution’s information-sharing practices in initial, annual, and revised privacy notices
P
provide a clear and conspicuous annual privacy notice to customers
✘
✘
✘
CC
CC
CC
CC
make available on the next business day the lesser of $100 or the aggregate amount of checks
deposited that are not subject to next-day availability
make funds from certain checks, both local and non local, available for withdrawal within the times
prescribed by the regulation
provide account deposit slips that contain required disclosures
When placing an exception hold on an account other than a new account, provide the customer with
a notice containing certain information within prescribed time periods
provide account disclosures clearly and conspicuously, in writing, and in a form that the consumer
may keep
provide account disclosures containing certain required information
✘
✘
✘
✘
✘
✘
✘
DD
DD
✘
✘
DD
provide account disclosures that are accurate and complete
DD disclose additional terms and conditions of customer accounts when using the phrase “annual percentage yield” in an advertisement ✘
DD do not provide advertisements that are inaccurate or misleading (or both)
*exam data reporting periods are as follows: 2010 annual report —July 1, 2009 through June 30, 2010; 2011 annual report—July 1, 2010 through June 30, 2011
source: annual report of the Board of governors of the Federal reserve system
www.Federalreserve.gov/boarddocs/rptcongress/
✘
✘
✘
