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FRB: Press Release -- Final rule amendments to Regulation E, Regulati... 1 of 3 https://www.federalreserve.gov/boarddocs/press/boardacts/1998/199809... FEDERAL RESERVE SYSTEM 12 CFR Part 205 [Regulation E; Docket No. R-1007] Electronic Fund Transfers AGENCY: Board of Governors of the Federal Reserve System. ACTION: Final rule; technical amendments. SUMMARY: The Board is publishing a final rule under Regulation E revising the time periods for investigating alleged errors involving point-of-sale and foreigninitiated transactions. The former rule extended the statutory time periods for these transactions to allow financial institutions a longer period to investigate before they must provisionally credit an account and a longer period to complete an investigation. The final rule requires financial institutions to provisionally credit an account within 10 business days (rather than 20) and leaves in place the 90 calendar day period to complete the investigation of an alleged error. At the same time, the Board is extending the time periods to provisionally credit funds and investigate claims involving new accounts. The rule applies to claims made within 30 calendar days after an account is opened. The rule allows 20 business days for resolving an alleged error and up to 90 calendar days for completing the investigation. DATES: This rule is effective September 24, 1998. Compliance is optional until April 1, 1999. FOR FURTHER INFORMATION CONTACT: John C. Wood or Jane Jensen Gell, Senior Attorneys, Division of Consumer and Community Affairs, Board of Governors of the Federal Reserve System, at (202) 452-2412 or (202) 452-3667. For users of Telecommunications Device for the Deaf (TDD) only, contact Diane Jenkins at (202) 452-3544. FEDERAL RESERVE SYSTEM 12 CFR Part 213 [Regulation M; Docket No. R-1004] Consumer Leasing AGENCY: Board of Governors of the Federal Reserve System. 7/30/2024, 12:55 PM FRB: Press Release -- Final rule amendments to Regulation E, Regulati... 2 of 3 https://www.federalreserve.gov/boarddocs/press/boardacts/1998/199809... ACTION: Final rule. SUMMARY: The Board is publishing a final rule amending Regulation M, which implements the Consumer Leasing Act. The act requires lessors to provide consumers with uniform cost and other disclosures about consumer lease transactions. The final rule adopts several technical amendments to the regulation and commentary concerning lease payments, advertisements, and the treatment of taxes. DATES: This rule is effective September 24, 1998. Compliance is optional until October 1, 1999. FOR FURTHER INFORMATION CONTACT: Kyung Cho-Miller, Staff Attorney, Division of Consumer and Community Affairs, Board of Governors of the Federal Reserve System, at (202) 452-3667. For users of Telecommunications Device for the Deaf (TDD) only, Diane Jenkins at (202) 452-3544. FEDERAL RESERVE SYSTEM 12 CFR Part 230 [Regulation DD; Docket No. R-1003] Truth in Savings AGENCY: Board of Governors of the Federal Reserve System. ACTION: Final rule. SUMMARY: The Board is publishing a final rule amending Regulation DD, which implements the Truth in Savings Act. The rule implements amendments to the Truth in Savings Act enacted as part of the Economic Growth and Regulatory Paperwork Reduction Act of 1996. The law modifies the rules for indoor lobby signs, eliminates subsequent disclosure requirements for automatically renewable time accounts with terms of one month or less, and repeals the civil liability provisions as of September 30, 2001. DATES: This rule is effective September 24, 1998. FOR FURTHER INFORMATION CONTACT: Kyung Cho-Miller, Staff Attorney, Division of Consumer and Community Affairs, at (202) 452-3667 or 452-2412. For the hearing impaired only, Telecommunications Device for the Deaf (TDD), contact Diane Jenkins, at (202) 452-3544. Regulation E final rule (26 KB PDF) Regulation M final rule (23 KB PDF) Regulation DD final rule (17 KB PDF) 1998 Banking and consumer regulatory policy 7/30/2024, 12:55 PM FRB: Press Release -- Final rule amendments to Regulation E, Regulati... 3 of 3 https://www.federalreserve.gov/boarddocs/press/boardacts/1998/199809... Home | News and events Accessibility Last update: September 30, 1998, 10:00 AM 7/30/2024, 12:55 PM