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FED E R A L R E S E R V E B A N K OF D A L L A S Station K, Dallas, Texas 7 5 2 2 2 C i r c u l a r No. 84-102 October 11, 1984 TO: All member banks and o t h e r s concerned in the Eleventh Federal Reserve D i s t r i c t ATTENTION: Chief Executive O f f i c e r SUBJECT: Consumer Advisory Council Meeting SUMMARY: The Board of Governors o f the Federal Reserve System has announced t h a t i t s Consumer Advisory Council w ill meet a t 1:00 p.m. October 24, and 9:00 a.m. on October 25 and October 26. The s e s s i o n s a r e open to th e p u b lic and w i l l be held in Te rrace Room E of the Board's Martin B u il di n g. Topics to be d is c u s s e d a re pr e s e n te d in the a t t a c h e d Federal R e g i s t e r n o t i c e . I n t e r e s t e d p a r t i e s may d i r e c t w r i t t e n comments to Ms. Ann Marie Bray, S e c r e t a r y , Consumer Advisory Council, Divis ion of Consumer and Community A f f a i r s , Board o f Governors o f the Federal Reserve System, Washington, D.C., 20551. Comments must be r e c ei v e d no l a t e r than October 19, 1984. ATTACHMENTS: Federal R e g i s t e r n o t i c e MORE INFORMATION: Legal Department, Extension 6171 ADDITIONAL COPIES: Public A f f a i r s Department, Extension 6289 Banks and others are encouraged to use the following incoming W A TS numbers in contactin g this Bank: 1-800-442-7140 (intrastate) and 1-800-5 27-9200 (interstate). For calls placed locally, please use 651 plus the extension referred to above. This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library (FedHistory@dal.frb.org) FEDERAL RESERVE SYSTEM CONSUM ADVISORY COUNCIL ER Notice of Meeting of Consumer Advisory Council The Consumer Advisory Council w i l l meet on Wednesday, October 24, Thursday, October 25, and F r i d a y , October 26. The meeting, which w i l l be open t o p u b li c o b s e r v a t i o n , w i l l t a k e p la ce in T er ra ce Room E of t h e Martin Building. The October 24 s e s s i o n i s c on tin u e u n t i l 5:00 p.m. expected t o begin a t 1:00 p.m. and t o The October 25 s e s s i o n is expected t o begin a t 9:00 a.m. and t o c on tin ue u n t i l 5:00 p . m ., with a lunch break from 1:00 2:00 p.m. The October 26 s e s s i o n is conclude a t noon. to expected t o begin a t 9:00 a.m. and t o The Martin B uil din g i s lo c a t e d on C S t r e e t , Northwest, between 20th and 21st S t r e e t s in Washington, D.C. The C o u n c i l ' s fu n c ti o n i s t o ad v is e t h e Board on t h e e x e r c i s e of t h e Board's r e s p o n s i b i l i t i e s under th e Consumer C r e d i t P r o t e c t i o n Act and on o t h e r m a tt e rs on which t h e Board seeks i t s a d v ic e . Time p e r m i t t i n g , t h e Council w i l l d is c u s s t h e fol lo wi n g t o p i c s : 1. Board's Regulation B - - Equal C r e d it O p p o r t u n i t y . Discussion of t h e Board's review of Regulation B under i t s Regulatory Improvement P r o j e c t . 2. S t a t u s Reports from t h e C o u n c i l s Ad Hoc Committees. B r i e f i n g by Council committees on t h e i r a c t i v i t i e s on: ® S er vi ce Charges and L i f e l i n e S e r v i c e s . ° Emerging Technologies in t h e F in a n c ia l S e r v ic e s Industry. © I n c e n t i v e s f o r I n s t i t u t i o n s to Achieve Exemplary Performance under th e Community Reinvestment Act. © I n t e g r a t i o n of E l e c t r o n i c Fund T r a n s f e r / T r u t h in Lending Laws. o A l t e r n a t i v e Rate Mortgages and V a ri a b le Rate Lending. Board's Response t o Issuance of t h e Federal Trade Commission's C r e d i t P r a c t i c e s R ul e . Dis cussion of t h e FTC's C r e d it P r a c t i c e s Rule and whether t h e Board should adopt a s u b s t a n t i a l l y s i m i l a r r u l e f o r banks. Public Po li cy on C r e d it Card Surcharges and Cash D i s c o u n t s . Discussion of l e g i s l a t i v e a l t e r n a t i v e s and p u b l i c p o l i c y governing t h e im p o si tio n of surc har ge s on c r e d i t card purchases and t h e p r o v i s i o n of d i s c o u n t s f o r cash p u rc h a s e s . Regulatory and Enforcement P o l i c i e s in Consumer M a t t e r s . Discussion of (1) how t o achi eve g r e a t e r u n if o r m it y among t h e fe d e r a l r e g u l a t o r y ag encies in s e t t i n g and e n f o r c i n g consumer f i n a n c i a l p r o t e c t i o n p o l i c i e s ; and (2) how t o b e t t e r c o o r d i n a t e f e d e r a l e f f o r t s with s t a t e r e g u l a t o r y agencies. - 6. 3 - Truth in S a v i n g s . Discu ssi on of t h e q u e s ti o n whether t h e r e i s a need f o r f e d e r a l t r u t h in sav ings l e g i s l a t i o n in l i g h t of re c e n t d e r e g u l a t o r y a c t i o n s reg ard in g savings i n s t r u m e n t s . 7. Regulatory Update. S t a t u s of re c en t Board r e g u l a t o r y a c t i o n s in t h e area of consumer f i n a n c i a l s e r v i c e s . Other m a tte rs p r e v i o u s l y co n sid er ed by t h e Council or i n i t i a t e d by Council members a l s o may be d i s c u s s e d . Persons wishing to submit t o t h e Council t h e i r views reg ar din g any of t h e above t o p i c s may do so by sending w r i t t e n s ta t e m e n ts t o Ms. Ann Marie Bray, S e c r e t a r y , Consumer Advisory Co uncil, D ivi si on of Consumer and Community A f f a i r s , Board of Governors of t h e Federal Reserve System, Washington, D.C. 2Ub51. Comment must be re cei ve d no l a t e r than c lo s e of bus ine ss F r i d a y , October 19, and must be of a q u a l i t y s u i t a b l e fo r reproduction. Information with regard Mr. Joseph R. Coyne, A s s i s t a n t t o t o t h i s meeting may be o b ta ine d from th e Board, a t (202) 452-3204. Board of Governors of t h e Federal Reserve System, October 1, 1984. _____ (sig ne d) James McAfee______ James McAfee A s s o c ia te S e c r e ta r y of th e Board
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