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FEDERAL RESERVE BANK O F NEW YORK /"Circular No. 2 8 6 3 1 L November 6, 1944 J CONSUMER CREDIT AMENDMENT NO. 14 TO REGULATION W OF THE BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM To all Financial Institutions Subject to Regulation W, and Others Concerned, in the Second Federal Reserve District: For your information we quote below from a statement for the press issued by the Board of Governors of the Federal Reserve System for release on November 6, 1944. The Board of Governors of the Federal Reserve System has adopted Amendment No. 14 to its Regulation W, relating to consumer credit. This amendment becomes effective November 6, .1944. The purpose of Amendment No. 14 is to exempt from the provisions of the regulation any loan guaranteed by the Administrator of Veterans' Affairs pursuant to Title III of the Servicemen's Readjustment Act of 1944. The text of Amendment No. 14 to Regulation W is printed on the reverse side. Additional copies may be obtained upon request. AXLAN SPROUL, President. AMENDMENT NO. 14 TO REGULATION W ISSUED BY THE BOARD OP GOVERNORS OF THE FEDERAL RESERVE SYSTEM Regulation W is hereby amended, effective November 6, 1944, by adding to section 8 entitled "Exceptions" the following new subsection: (q) Servicemen's Guaranteed Loans. — Any extension of credit guaranteed in whole or in part by the Administrator of Veterans' Affairs pursuant to the provisions of Title III of the Servicemen's Readjustment Act of 1944.
@FedFRASER