Regulatory Roundup

American Banker, September 11, 2003 | Go to article overview

Regulatory Roundup


OPEN FOR COMMENT

Tying

Proposed guidance by the Federal Reserve Board on which cross-marketing arrangements would violate anti-tying laws. Published Aug. 29. Comments due Sept. 30.

Identity Theft

Proposed guidelines by the banking and thrift regulators to deter identity theft. Banks would have to establish a system for identifying personal information at risk of being stolen and develop a response system for securing all accounts of victims and notifying customers in certain circumstances. Published Aug. 12. Comments due Oct. 14.

Predatory Lending I

A two-pronged proposal by the Office of the Comptroller of the Currency that would impose a new anti-predator requirement on lenders and give the agency more preemption power. The first part would require national banks to make loans on the basis of borrowers' ability to repay, not on the foreclosure value of collateral. That standard had been recommended in guidelines but is not mandatory. The second part would assert that state laws dealing with licensing, credit terms, interest rates, disclosure, deposit-taking, and other issues would be preempted.

The proposal also asks whether the OCC should assert even broader preemption authority on mortgage loans. Published Aug. 5. Comments due Oct. 6.

Basel Committee I

An advance notice of proposed rulemaking by the four bank and thrift regulators detailing how the Basel II plan would be implemented in the United States. The regulators also issued a series of draft guidelines outlining how various pieces of the new rules would work. The guidelines focused on corporate credit and operational risk. Future ones are expected on retail credit and securitization. Published Aug. 4. Comments due Nov. 3.

Regulatory Relief

A proposal by the five banking, thrift, and credit union agencies that outlines a timetable for identifying unnecessary or overly burdensome regulations and suggesting changes. The plan calls for the review to be completed in three years, during which regulators would periodically request comment on particular regulations. Each round of comments would be summarized in a report, with the agencies suggesting changes to Congress. Published June 16. Comments are due Monday.

RECENT ACTIONS

Home Loan Banks

On Sept. 10 the Federal Housing Finance Board issued a proposal to require the 12 Home Loan Banks register with the Securities and Exchange Commission and expand the amount of public disclosures they make. Once published in the Federal Register, the public will have 120 days to comment.

Multidistrict Membership

The Federal Housing Finance Board has reversed course and decided against issuing broad rules outlining how banks and thrifts could belong to more than one of the 12 Home Loan banks. Instead, Finance Board Chairman John Korsmo told Congress on Sept. 9 that the agency will make decisions on a case-by-case basis.

Shared National Credit

Regulators on Sept. 10 released the results of the annual shared national credit exam. Each year the OCC, the Federal Reserve Board, and the Federal Deposit Insurance Corp. review credits of $20 million or more held by at least three lenders. Total loan commitments fell 20%, to $1.6 trillion, from 2002 totals. Regulators attributed the decline to lower demand, tighter underwriting standards, more financing alternatives, and banks' cutting off less-profitable customers.

Capital Relief for FIN 46

The Federal Reserve Board, the Office of the Comptroller of the Currency, the FDIC, and the Office of Thrift Supervision approved a plan to provide banks capital relief for asset-backed commercial paper programs they were required to bring on the balance sheet under a January interpretation by the Financial Accounting Standards Board. Under the plan banks can exclude those assets when calculating risk-based capital until April 1, 2004. …

The rest of this article is only available to active members of Questia

Sign up now for a free, 1-day trial and receive full access to:

  • Questia's entire collection
  • Automatic bibliography creation
  • More helpful research tools like notes, citations, and highlights
  • A full archive of books and articles related to this one
  • Ad-free environment

Already a member? Log in now.

Notes for this article

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items

Items saved from this article

This article has been saved
Highlights (0)
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

Citations (0)
Some of your citations are legacy items.

Any citation created before July 30, 2012 will labeled as a “Cited page.” New citations will be saved as cited passages, pages or articles.

We also added the ability to view new citations from your projects or the book or article where you created them.

Notes (0)
Bookmarks (0)

You have no saved items from this article

Project items include:
  • Saved book/article
  • Highlights
  • Quotes/citations
  • Notes
  • Bookmarks
Notes
Cite this article

Cited article

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

1

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited article

Regulatory Roundup
Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this article

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Help
Full screen

matching results for page

    Questia reader help

    How to highlight and cite specific passages

    1. Click or tap the first word you want to select.
    2. Click or tap the last word you want to select, and you’ll see everything in between get selected.
    3. You’ll then get a menu of options like creating a highlight or a citation from that passage of text.

    OK, got it!

    Cited passage

    Style
    Citations are available only to our active members.
    Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

    1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

    Cited passage

    Thanks for trying Questia!

    Please continue trying out our research tools, but please note, full functionality is available only to our active members.

    Your work will be lost once you leave this Web page.

    For full access in an ad-free environment, sign up now for a FREE, 1-day trial.

    Already a member? Log in now.