|For immediate release|
The Federal Reserve Board today requested comment on revised proposals to permit electronic delivery of federally mandated disclosures under five consumer protection regulations: B (Equal Credit Opportunity), E (Electronic Fund Transfers), M (Consumer Leasing), Z (Truth in Lending), and DD (Truth in Savings).
Comment is requested by October 29.
In March 1998, the Board published an interim rule to Regulation E and proposed changes to Regulations B, M, Z, and DD to permit financial institutions and others to send electronic disclosures, if the consumer agrees, with few other requirements. Disclosures may be sent to the consumer's e-mail address or posted on a web site.
In response to comments, the Board on August 18 approved the publication of revised and more comprehensive proposals, together with proposed commentary that would provide guidance on electronic communication. The interim rule to Regulation E remains in effect. The Board today also published an interim rule to Regulation DD regarding the electronic delivery of periodic statements.
Proposed Rules (as revised on September 15, 1999)
Regulation B (83 KB PDF)
Regulation E (93 KB PDF)
Regulation M (72 KB PDF)
Regulation Z (127 KB PDF)
Regulation DD (90 KB PDF)
1999 Banking and consumer regulatory policy