District Circular Letters

A new online publication to help consumers better understand how to protect themselves against harmful gift card practices was unveiled April 19, 2010 by the Federal Reserve Board.

Eight federal regulators released an Online Form Builder on April 15, 2010 that financial institutions can download and use to develop and print customized versions of a model consumer privacy notice.

The federal banking agencies, in conjunction with the Conference of State Bank Supervisors (CSBS), released a policy statement on March 17, 2010 on their expectations for sound funding and liquidity risk management practices.1 This policy statement, adopted by each of the agencies, summarizes the principles of sound liquidity risk management issued previously and, when appropriate, […]

The purpose of this letter is to reiterate and highlight Regulation Z (Truth in Lending) requirements related to the submission of consumer credit card agreements. Under the Credit Card Accountability Responsibility and Disclosure Act of 2009, credit card issuers must submit their consumer credit card agreements to the Federal Reserve Board (Board) for posting on […]

The Federal Reserve Board announced final rules on March 23, 2010 to restrict the fees and expiration dates that may apply to gift cards. The rules protect consumers from certain unexpected costs and require that gift card terms and conditions be clearly stated.

The Federal Reserve Board proposed on March 3, 2010 a rule amending Regulation Z (Truth in Lending) to protect credit card users from unreasonable late payment and other penalty fees and to require credit card issuers to reconsider increases in interest rates.

Donald L. Kohn submitted on March 1, 2010 his intent to resign as a member of the Board of Governors of the Federal Reserve System, effective at the expiration of his term as Vice Chairman on June 23, 2010.

Bank account overdraft fees can be a source of unexpected costs for consumers. A new online Federal Reserve Board publication will help consumers better understand rules that provide additional protection when a debit card or automated teller machine (ATM) transaction causes an account to be overdrawn.

The Federal Reserve Board announced on March 10, 2010 that the Consumer Advisory Council will hold its next meeting on Thursday, March 25. The meeting will take place in Dining Room E, Terrace Level, in the Board’s Martin Building. The session will begin at 9:00 a.m. and is open to the public. For security purposes, […]

The Federal Reserve Board proposed on February 19, 2010 clarifications to aspects of its November 2009 final rule under Regulation E (Electronic Fund Transfers) and its December 2008 final rule under Regulation DD (Truth in Savings) pertaining to overdraft services.