[Unified Agenda of Federal Regulatory and Deregulatory Actions]
[Federal Reserve System Semiannual Regulatory Agenda]
[From the U.S. Government Publishing Office, www.gpo.gov]
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Part XIX
Federal Reserve System
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Semiannual Regulatory Agenda
[[Page 21950]]
FEDERAL RESERVE SYSTEM (FRS)
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FEDERAL RESERVE SYSTEM
12 CFR Ch. II
Semiannual Regulatory Flexibility Agenda
AGENCY: Board of Governors of the Federal Reserve System.
ACTION: Semiannual regulatory agenda.
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SUMMARY: The Board is issuing this agenda under the Regulatory
Flexibility Act and the Board's Statement of Policy Regarding Expanded
Rulemaking Procedures. The Board anticipates having under consideration
regulatory matters as indicated below during the period May 1, 2010,
through October 31, 2010. The next agenda will be published in fall
2010.
DATES: Comments about the form or content of the agenda may be
submitted any time during the next 6 months.
ADDRESSES: Comments should be addressed to Jennifer J. Johnson,
Secretary of the Board, Board of Governors of the Federal Reserve
System, Washington, DC 20551.
FOR FURTHER INFORMATION CONTACT: A staff contact for each item is
indicated with the regulatory description below.
SUPPLEMENTARY INFORMATION: The Board is publishing its spring 2010
agenda as part of the spring 2010 Unified Agenda of Federal Regulatory
and Deregulatory Actions, which is coordinated by the Office of
Management and Budget under Executive Order 12866. The agenda also
identifies rules the Board has selected for review under section 610(c)
of the Regulatory Flexibility Act, and public comment is invited on
those entries. The complete Unified Agenda will be available to the
public at the following website: www.reginfo.gov. Participation by the
Board in the Unified Agenda is on a voluntary basis.
The Board's agenda is divided into three sections. The first,
Proposed Rule Stage, reports on matters the Board may consider for
public comment during the next 6 months. The second section, Final
Rule Stage, reports on matters that have been proposed and are
under Board consideration. And a third section, Completed Actions,
reports on regulatory matters the Board has completed or is not
expected to consider further. Matters begun and completed between
issues of the agenda have not been included.
A dot () preceding an entry indicates a new matter that
was not a part of the Board's previous agenda and which the Board
has not completed.
Margaret McCloskey Shanks,
Associate Secretary of the Board.
Federal Reserve System--Proposed Rule Stage
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Regulation
Sequence Title Identifier
Number Number
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410 Regulation Z--Truth in Lending Act (Docket Number: R-1366)............................ 7100-AD33
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Federal Reserve System (FRS) Proposed Rule Stage
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410. REGULATION Z--TRUTH IN LENDING ACT (DOCKET NUMBER: R-1366)
Legal Authority: 15 USC 1601 et seq
Abstract: The Federal Reserve proposed for comment amendments to
Regulation Z (Truth in Lending) that would revise disclosure
requirements for closed-end loans secured by real property or a
dwelling. The proposed rules would require creditors to provide certain
disclosures at application about risky loan features and adjustable-
rate mortgages. Three days after application, consumers would receive
disclosures summarizing key loan features including the annual
percentage rate and finance charge, which would be revised to be a more
comprehensive measure of the cost of credit. Consumers would receive a
final disclosure of loan terms three days before loan consummation.
Certain new periodic disclosures would be required after consummation.
In addition, the proposal would prohibit certain payments to mortgage
brokers and loan officers that are based on the loan's terms and
conditions, and prohibit steering consumers to transactions that are
not in their interest to increase compensation received. New rules
regarding eligibility restrictions and disclosures for credit insurance
and similar products would apply to all closed-end and open-end credit
transactions.
Timetable:
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Action Date FR Cite
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Board Requested Comment 08/26/09 74 FR 43232
Board Expects Further Action By 05/00/10
Regulatory Flexibility Analysis Required: Yes
Agency Contact: Kathleen Ryan, Counsel, Federal Reserve System,
Division of Consumer and Community Affairs
Phone: 202 452-3667
RIN: 7100-AD33
[FR Doc. 2010-8941 Filed 04-23-10; 8:45 am]
BILLING CODE 6210-01-S