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Fed Releases Small Entity Compliance Guide for Reg R(9/02/08) The Federal Reserve Board released its Small Entity Compliance Guide for Regulation R. Reg R, which contains numerous ABA recommendations, implements the 1999 Gramm-Leach-Bliley Act's broker-dealer provisions to allow banks to continue performing traditional activities within the institution without Securities and Exchange Commission oversight. The guide provides a general description of the regulation and contact information for small entities with compliance questions. Read the guide. For more information, contact ABA's Sally Miller.
ABA Supports Fed Proposal to Change Reg C Index(9/02/08) ABA and four other trade groups support the Federal Reserve's proposal to amend Regulation C (Home Mortgage Disclosure Act) to change the index used to calculate triggers for disclosing annual percentage rate-related information from Treasury securities to a mortgage-based index -- the Freddie Mac Primary Mortgage Market Survey. "This change will help reduce the variation in reported rate information that has resulted from changes in the financial markets rather than changes in mortgage lending patterns," the trade groups said in a comment letter Friday. "We also support making HMDA reporting thresholds and Home Ownership and Equity Protection Act thresholds for coverage of loans as 'higher-priced mortgage loans' correspond exactly," which will ease the compliance burden. For more information, contact ABA's Rod Alba. More Compliance News
