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FED ER A L RESERVE BANK O F N EW YORK I”Circular No. 76441 L May 30, 1975 J REGULATION Z Extension of Time for Comment on Proposed Regulations to Implement the Fair Credit Billing Act To A ll Banks, and Others Concerned, in the Second Federal Reserve District: Following is the text of a statem ent issued yesterday by the Board of Governors of the Federal Reserve System: The Board of Governors of the Federal Reserve System today extended until June 20 the deadline for filing comments on proposed regulations to implement the Fair Credit Billing Act. In view of the extension, the Board denied requests for a public hearing on the proposed regulation. The comment period had been scheduled to expire on May 30. The purpose of the Act is to protect consumers against inaccurate and unfair credit billing and credit card practices. Printed below is the text of the B oard’s O rder in this m atter. A copy of the text of the B oard’s proposal was enclosed with our Circular No. 7628, dated May 9, 1975. Com m ents on the proposal should be subm itted by June 20, 1975, and may be sent to our Bank Regulations D epartm ent. A LFRED HAYES, President. (Reg. Z) TRUTH IN LENDING Fair Credit Billing — Extension of Comment Period By docum ent appearing at 40 Federal Register 19489, May 5, 1975, the Board proposed amendm ents to Regulation Z to implement Title III of P.L. 93-495 (sec. 301-308) dealing with fair credit billing. W ritten comments were solicited to be received not later than May 30, 1975. Due to the complexity of the proposed am endm ents and the fact that other consumer credit regulations have also recently been proposed making meaningful comment more difficult, the Board hereby extends the comment period for the proposed fair credit billing am endm ents to Regulation Z until June 20, 1975. By order of the Board of Governors, May 29, 1975.
@FedFRASER