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F ederal Reser ve Ba n k o f D allas DALLAS, TEX A S 75222 C i r c u l a r No. 77-23 F e b r u a r y 14, 1977 NEW R E G U LA TIO N A A — U N F A IR OR D E C E P T IV E A C T S OR P R A C TIC E S Consum er C o m plaint P ro c e d u re T O A L L BANKS AN D O THERS CONCERNED IN TH E E L E V E N TH F EDERAL RESERVE D IS T R IC T : On S eptem b e r 27, 1976, the Board of G o v e rn o rs of th e Fe d era l R e s e rv e System announced the e stab lis h m en t of a new R e g u latio n A A , e ffe c tiv e im m e d ia te ly , that d e ta ile d p ro c e d u re s fo r h a n d lin g con su m er com plaints r e g a r d in g a lle g e d u n f a i r or d e c e p tiv e acts o r p ra c tic e s of state m em ber banks and o th e r b a n k s . You w e r e fu r n is h e d the te x t of the B o a rd 's o r d e r as subm itted fo r p u b lic a tio n in the FE DE RAL R E G IS TE R w ith this B a n k 's C i r c u la r No. 7 6 -1 3 5 , dated O ctober 8, 1976. Enclosed is a copy of R e g u latio n A A . A lso enclosed o n ly to m ember b a n ks and oth ers that m aintain R egulatio ns B in d e rs is a d i v i d e r tab for the new re g u la tio n . T h e d i v i d e r tab and pa m p h let should be file d b e h in d the tab m a rk e d " S e c u ritie s C r e d i t T r a n s a c tio n s ." A n y questions r e g a r d in g the new re g u la tio n should be d ire c te d to R ic h a rd B . West of our R egulations D e p a r t m e n t a l (214) 6 51-6169. A d d itio n a l copies of R e gu lation A A w i ll be fu r n is h e d upon re q u e s t to the S e c r e ta r y 's O ffice of this B ank (214) 6 51 -6 26 7 . S in c e r e ly y o u r s , R o b e rt H . B o y k in F ir s t V ic e P re s id e n t E nclo sure (s) This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library (FedHistory@dal.frb.org) BOARD OF GOVERNORS of the FEDERAL RESERVE SYSTEM UNFAIR OR DECEPTIVE ACTS OR PRACTICES REGULATION AA (12 CFR 227) Effective September 27, 1976 REGULATION AA (12 C F R 227) Effective September 27, 1976 UNFAIR OR DECEPTIVE ACTS OR PRACTICES SECTION 227.1— DEFINITIONS (i) a description of the act or practice that is thought to be unfair or deceptive, or in violation of existing law or regulation, including all relevant facts; (ii) the name and address of the bank that is the subject of the complaint; and (iii) the name and address of the complainant. (2) Consumer complaints should be made to: (i) the Director, Division of Consumer Af fairs, Board of Governors of the Federal Reserve System, Washington, D.C, 20551; or (ii) the Federal Reserve Bank of the District in which the bank is located. The addresses of the Federal Reserve Banks are as follows: For the purposes of this P a r t,1 unless the con text indicates otherwise, the following definitions apply: (a) Board means the Board of Governors of the Federal Reserve System. (b) Consumer complaint means an allegation by or on behalf of an individual, group of individ uals, or other entity that a particular act or prac tice of a State member bank is unfair or deceptive, or in violation of a regulation issued by the Board pursuant to a Federal statute, or in viola tion of any other Act or regulation under which the bank must operate. (c) State member bank means a bank that is chartered by a State and is a member of the Federal Reserve System. (d) Unless the context indicates otherwise, “bank” shall be construed to mean a “State mem ber bank,” and “complaint” to mean a “consumer complaint.” Federal Reserve Bank of Boston 30 Pearl Street Boston, Massachusetts 02106 Federal Reserve Bank of New York 33 Liberty Street New York, New York 10045 Federal Reserve Bank of Philadelphia 100 North 6th Street Philadelphia, Pennsylvania 19105 SECTION 227.2— CONSUMER COMPLAINT PROCEDURE Federal Reserve Bank of Cleveland (a) Submission of complaints. (1) Any con 1455 East Sixth Street sumer having a complaint regarding a State Cleveland, Ohio 44101 member bank is invited to submit it to the Federal Federal Reserve Bank of Richmond Reserve System. The complaint should be sub 100 North Ninth Street mitted in writing, if possible, and should include Richmond, Virginia 23261 the following information: Federal Reserve Bank of Atlanta ' T h e words “ this P art,” as used herein, m ean Title 12, 104 Marietta Street, N.W. C hap ter II, P art 227 of the C ode o f F ed eral Regulations, Atlanta, Georgia 30303 cited as 12 C F R 227 and designated as Regulation AA. 2 § 227.2 REGULATION AA Federal Reserve Bank of Chicago 230 South LaSalle Street Chicago, Illinois 60690 Federal Reserve Bank of San Francisco 400 Sansome Street San Francisco, California 94120 Federal Reserve Bank of St. Louis 411 Locust Street St. Louis, Missouri 63166 (b) Response to complaints. Within 15 business days of receipt of a written complaint by the Board or a Federal Reserve Bank, a substantive response or an acknowledgment setting a rea sonable time for a substantive response will be sent to the individual making the complaint. (c) Referrals to other agencies. Complaints received by the Board or a Federal Reserve Bank regarding an act or practice of an institution other than a State member bank will be forwarded to the Federal agency having jurisdiction over that institution. Federal Reserve Bank of Minneapolis 250 Marquette Street Minneapolis, Minnesota 55480 Federal Reserve Bank of Kansas City 925 Grand Avenue Kansas City, Missouri 64198 Federal Reserve Bank of Dallas 400 South Akard Street Dallas, Texas 75222 3
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