BOARD OF GOVERNORS
DIVISION OF CONSUMER
October 22, 2010
TO THE OFFICERS AND MANAGERS IN CHARGE OF CONSUMER AFFAIRS SECTIONS
SUBJECT: Revised Interagency Examination Procedures for Regulation E
The Task Force on Consumer Compliance of the Federal Financial Institutions Examination Council recently approved the attached interagency examination procedures for Regulation E - Electronic Fund Transfers. These revised procedures supersede the Regulation E interagency examination procedures transmitted with CA 10-7.
The attached procedures incorporate the Board's recent revisions to the gift card provisions of Regulation E. For cards produced prior to April 1, 2010, the revisions modify the effective date of certain disclosure and card expiration requirements in the gift card provisions of the Credit CARD Act of 2009. See 75 FR 50683 (Aug. 17, 2010).
If you have any questions, please contact Brian Fink, Supervisory Consumer Financial Services Analyst, (202) 912-7878, or Paul Robin, Manager, Oversight and Policy, at (202) 452-3140.