BOARD OF GOVERNORS
DIVISION OF CONSUMER
October 12, 2007
TO THE OFFICERS AND MANAGERS IN CHARGE OF CONSUMER AFFAIRS SECTIONS AT EACH FEDERAL RESERVE BANK AND EACH DOMESTIC AND FOREIGN BANKING ORGANIZATION SUPERVISED BY THE FEDERAL RESERVE:
SUBJECT: Updated Examination Procedures for Regulation DD
The FFIEC Task Force on Consumer Compliance recently approved the attached examination procedures for Regulation DD (Truth in Savings). The updated procedures incorporate all amendments to Regulation DD (and the Official Staff Commentary) since the original release of the procedures in 1993. Among other changes, the procedures now cover the disclosure requirements for institutions advertising the payment of overdrafts. Further, because of pending regulatory changes related to electronic disclosures (see Board press release dated April 20, 2007), procedures covering electronic disclosures are not included in the attached document. Once the Board finalizes these regulatory changes, the examination procedures for Regulation DD will again be updated.
If you have any questions, please contact Kathleen Conley, Supervisory Consumer Financial Services Analyst, at (202) 452-2389.
Supersedes: CA 93-8 (August 13, 1993)CA letters | 2007 Letters