Search Results for keywords:"Disclosure Requirements"

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Search Results: keywords:"Disclosure Requirements"

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  • 2021-04046 — Agency Information Collection Activities: Proposed Collection Renewal; Comment Request
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    Type:Notice
    Citation:86 FR 11771
    Reading Time:about 5 minutes

    The Federal Deposit Insurance Corporation (FDIC) is seeking public comments on renewing two information collection requirements as part of its obligations under the Paperwork Reduction Act of 1995. The first collection relates to recordkeeping, disclosure, and reporting requirements in connection with Regulation Z, which involves the Truth in Lending Act. The second concerns account-based disclosures linked to Consumer Financial Protection Bureau Regulations E and DD and Federal Reserve Regulation CC, ensuring proper disclosure about electronic fund transfers and deposit accounts. The public has until April 27, 2021, to submit their comments, which will be considered a matter of public record.

    Simple Explanation

    The FDIC is asking people to share their thoughts on keeping track of how certain money rules are followed. They want to make sure banks tell people the truth about their loans and accounts. People can say what they think until April 27, 2021.

  • 2021-02201 — Agency Information Collection Activities: Announcement of Board Approval Under Delegated Authority and Submission to OMB
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    Type:Notice
    Citation:86 FR 8012
    Reading Time:about 3 minutes

    The Board of Governors of the Federal Reserve System has agreed to continue, for three more years, the existing disclosure requirements related to the Consumer Financial Protection Bureau's Regulation DD, without making any changes. These requirements involve financial institutions providing specific account information, including fees and terms, to help consumers make informed decisions when comparing deposit accounts. Though the Board requested public comment on this extension, only one comment was received, which did not pertain to the matter at hand. The Board officially adopted this extension as initially proposed.

    Simple Explanation

    The Federal Reserve decided to keep some rules for three more years to make sure banks tell people important details about their accounts, like fees, so they can pick the best one. They asked for comments about this plan, but only got one comment that didn’t help, so they went ahead with their plan anyway.