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FEDERAL RESERVE BANK OF NEW YORK Circular No. 8740 January 18, 1980 Suspension of Interpretation of Regulation B Regarding New Jersey Statute Prohibiting Marital Status Inquiries To All Member Banks, and Others Concerned, in the Second Federal Reserve District: The Board of Governors of the Federal Reserve System has suspended, effective January 21, 1980, an interpretation of its Regulation B, “Equal Credit Opportunity,” regarding a New Jersey law prohibiting marital status inquiries in connection with credit applications. The Board of Governors had determined that the New Jersey law and other substantially similar State laws are not inconsistent with the Equal Credit Opportunity Act and Regulation B. A copy of the interpretation was sent to you with our Circular No. 8650. Since the issuance of the interpretation in September 1979, a number of persons have contacted the Board questioning the analysis of the effect of the New Jersey law. Pending resolution of that issue, the Board has suspended the interpretation. The Board’s notice regarding the suspension is printed on the reverse side of this circular. Questions on this m atter may be directed to our Regulations Division (Tel. No. 212-791-5914). T h o m a s M. T i m l e n , First Vice President. (Over) FEDERAL RESERVE SYSTEM [12 CFR Part 202] [Reg. B; Docket No. R-0248] EQUAL CREDIT OPPORTUNITY Suspension of Board Interpretation § 202.1104 AGENCY: Board of Governors of the Federal Reserve System. ACTION: Suspension of interpretation. SUMMARY: The Board suspends its recent interpretation of Regulation B, which determined that a New Jersey statute governing what may be asked in connection with Credit applications was not inconsistent with the Equal Credit Opportunity Act, as implemented by Regulation B. DATE: January 21, 1980. FOR FURTHER INFORMATION CONTACT: Robert C. Plows, Section Chief, Division of Consumer and Community Affairs, Board of Governors of the Federal Reserve System, Washington, D.C. 20551 (202-452-3667). [Mr. Plows is now Assistant Director of that division.] SUPPLEMENTARY INFORMATION: On October 4, 1979, the Board published (44 FR 57070) an interpretation of Regulation B, § 202.1104, determining that a New Jersey statute (New Jersey Stat. Annot. § 10:15 - 12(i)(2)) is not inconsistent with the Equal Credit Opportunity Act (15 U.S.C. 1691 169lf), as implemented by Regulation B (12 CFR Part 202). A number of per sons have contacted the Board since the interpretation was issued, questioning the analysis of the effect of the New Jersey law. Pending resolution of that issue, the Board believes that suspension of the interpretation for additional study would be advisable. Accordingly, pursuant to § 705(f) of the Equal Credit Opportunity Act (15 U.S.C. 169ld(f)), the Board suspends Interpretation § 202.1104 of Regulation B. By order of the Board of Governors, January 11, 1980. (Signed) Theodore E. Allison Theodore E. Allison Secretary of the Board [SEAL]
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