Regulatory & Compliance

The Securities and Exchange Commission and Board of Governors of the Federal Reserve System announced Dec. 18, the release of joint proposed rules to implement the "broker" exceptions for banks under Section 3(a)(4) of the Securities Exchange Act of 1934.

In a joint release at the end of 2006, the Federal Reserve Board, the FDIC, and the Office of the Comptroller of the Currency announced the annual increase in the Community Reinvestment Act reporting thresholds.

The Federal Housing Finance Board conceded to public commenters and removed a provision from its final capital rule that could have made it less likely for Federal Home Loan Bank members to receive dividends. The final rule prohibits a FHLB from issuing new excess stock to members if the amount...

The President's Identity Theft Task Force is seeking public comment on particulars for its strategic plan to fight identity theft before submitting its final recommendations to the president.

NCUA clarified in a recent legal opinion letter (06-1101) that federal credit unions may establish no-interest/dividend accounts for members lacking Social Security numbers or another taxpayer identification number.

NCUA Vice Chairman Rodney E. Hood has been appointed to serve on the FCC's Advisory Committee on Diversity for Communications in the Digital Age.