WASHINGTON — The Federal Reserve Board announced that it would be publishing in the Federal Register a request for comment on proposed amendments to clarify the requirements or certain consumer disclosures in electronic form.
|The proposal would amend interim final rules issued in 2001 by withdrawing portions that restate or cross-reference provisions of the Electronic Signatures in Global and National Commerce Act (E-Sign Act) and eliminating provisions that potentially impose unnecessary burdens on electronic banking and commerce that may not bolster consumer protection, while retaining guidance on the use of electronic disclosures. The proposal covers Regulations B (Equal Credit Opportunity Act), E (Electronic Funds Transfer Act), M (Consumer Leasing Act), Z (Truth in Lending Act), and DD (Truth in Savings Act).
|The proposal would also implement relevant provisions of the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005, which mandates certain disclosures for online credit card solicitations.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
- Exclusive discounts on ALM and CU Times events.
- Access to other award-winning ALM websites including Law.com and GlobeSt.com.
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
