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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


Federal Reserve Bank of St. Louis, One Federal Reserve Bank Plaza, St. Louis, MO 63102