The Board of Governors of the Federal Reserve System has decided to extend, for three years, the requirements for disclosure connected with Regulation H, which concerns consumer protection in sales of insurance. This extension does not introduce any changes to the current requirements. Regulation H, implemented in 2000, mandates that banks provide certain information to consumers about insurance products or annuities in advertisements and credit applications. The extension, published for public comment in 2024, received no comments and will proceed as planned.
Simple Explanation
The people in charge of the country's money rules decided to keep the same rules about telling people important things when selling them insurance, and they didn't get any new ideas or changes from people outside, so they're just going to keep doing what they have been doing for the next three years.