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F ederal Reserve b a n k o f Dallas D A L L A S, T E X A S 75222 Circular No. 77-74 July 1, 1977 EDUCATION PROGRAM—CONSUMER REGULATIONS TO ALL MEMBER BANKS IN THE ELEVENTH FEDERAL RESERVE DISTRICT: T h e Board of G o v e rn o rs of the Federal R e s e rv e System h a s a n n o u n c e d a na tionw ide p r o g r a m to a s s i s t efforts by m em ber b a n k s (includ ing national b a n k s) to comply with c o n s u m e r c r e d i t p ro te c tio n laws a n d re g u la tio n s . To c a r r y out this p r o g r a m , the Federal R e s e r v e Bank of Dallas is p r e p a r e d to offer the following s e r v i c e s to m ember b a n k s in the Eleventh Fe d e ra l R e s e r v e District: I. S e m in a rs As p a r t of th e educational p r o g r a m , the F ederal R e s e r v e Bank of Dallas will offer s e m i n a r s for m em ber b a n k s , to b e held at o u r Dallas Office a n d at o u r B ra n ch offices in El Paso, Houston, a nd San Antonio. We p la n to s c h e d u le t h e s e s e m in a r s o v e r a p e rio d of s e v e ra l months b e g in n in g in th e la tter p a r t of 1977 a n d will be contacting you in the n e a r f u tu r e with d e ta ils . II. V isits On r e q u e s t , th e F ederal R e s e r v e Bank of Dallas will make an o n - s ite v is it to member b a n k s to a s s i s t b a n k e r s in m atters c o n c e rn in g compliance with c o n s u m e r affairs laws and r e g u la tio n s . It is a n tic ip a ted that the visitation p r o g r a m will b e g in S e p te m b e r 1, 1977, a nd will contin ue for a n u m b e r of months until all such r e q u e s t s a r e h a n d le d . V isits will ty p ic a lly be of o n e - d a y d u ra tio n a n d c o v e r g e n e r a l p r o b lems a nd te c h n iq u e s of com pliance. P a r t i c u l a r q u e stio n s of in te rp r e ta tio n s w hich c annot be re s o lv ed a t th e time of th e v is it will be r e f e r r e d to our staff in Dallas for r e s p o n s e . Member b a n k s r e q u e s ti n g su ch a v is it should w r ite to Mr. R ich ard West, S e n io r R egulations A t t o r n e y , R eg ulatio ns and C o n su m e r Affairs Section, Federal R e s e r v e Bank of D allas, Dallas, T e x a s 75222, by This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library (FedHistory@dal.frb.org) - 2 - A u g u st 1, 1977. B an ks r e q u e s ti n g s u c h a s e r v ic e should indicate w h e t h e r the y would b e willing to p e r m it a joint v is it of one o r more o th e r m em ber b a n k s in t h e i r community to b e he ld on t h e i r p r e m i s e s . S u g g e s te d d a te s for th e v is its sho uld also be in d ic a te d . III. In te rp r e ta tio n s T h e Federal R e s e r v e Bank of Dallas is p r e p a r e d to r e s p o n d to w ritten r e q u e s t s for in te rp r e ta tio n of th e c o n s u m e r re g u la tio n s from m ember b a n k s , to th e e x te n t it is p o s s ib le for u s to do so. O u r r e s p o n s e to such r e q u e s t s w ill, of c o u r s e , b e a staff in te rp r e ta tio n a nd will not be b in d in g on th e Board of G o v e rn o rs of th e Federal R e s e r v e System or on the c o u r ts . N e v e r t h e l e s s , we can f u r n i s h o u r b e s t ju d g m e n t of th e p r o p o s e d i n t e r pre ta tio n of th e sta tu te o r re g u la tio n , in some c a s e s , a fte r consultation with the Washington staff of the Board of G o v e rn o rs . Such r e q u e s t s should b e d ir e c te d to the Regulations a nd C o nsum e r Affairs S ectio n, Federal R e s e r v e Bank of D allas, D allas, T e x a s 75222. T h e y will b e a c k n o w le d g e d im mediately, to g e th e r with some indication of w hen a r e s p o n s e can be e x p e c te d . T e le p h o n e r e q u e s t s for in te r p r e ta tio n s should be subm itted only on an e m e rg e n c y b a s i s . IV. A pplicab le Statutes a n d R egulations T h e following laws and re g u la tio n s a r e included in the p ro g ra m : (1) F a ir C r e d it R epo rting Act (2) Fair Housing Act (3) Real Estate Settlement P r o c e d u r e s Act (4) Regulation B(Equal C r e d it O p p o rtu n ity Act) (5) Regulation C(Home Mortgage D is clo s u re Act) (6) Regulation Z( T r u t h - i n - L e n d i n g , F a ir C r e d it B illing, and C on sum e r Leasing Acts) (7) Regulation AA (Unfair a n d Deceptive Acts a n d P rac tic e s by Banks a n d C o n su m e r Complaints) (8) Regulation H(P rov isio ns Related to National Flood In s u ra n c e ) (9) Regulation Q(I n teres t on Deposits) It is hoped th a t th e above p r o g r a m s will be helpful to m ember b a n k s in th e Eleventh F ed eral R e s e r v e D istrict in t h e i r efforts to comply with the c o n su m e r p ro g r a m s e t out a bov e. S in c e re ly y o u r s , E r n e s t T . Baughman President
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