PROPOSED ACTIONS.The Federal Reserve Board on May 18, 2000, published proposed amendments to Regulation Z (Truth in Lending) revising the disclosure requirements for credit and charge card solicitations. Comments are requested by July 18, 2000. The Federal Reserve Board on May 23, 2000, requested additional comments on deposit deadlines and pricing practices for automated au·to·mate v. au·to·mat·ed, au·to·mat·ing, au·to·mates v.tr. 1. To convert to automatic operation: automate a factory. 2. clearinghouse (ACH (Automated Clearing House) A system of the U.S. Federal Reserve Bank that provides electronic funds transfer (EFT) between banks. It is used for all kinds of fund transfer transactions, including direct deposit of paychecks and monthly debits for routine payments to ) transactions. Comments are requested by July 25, 2000. Based upon comments received in response to its earlier request for comments in May 1999, the Board has concluded that the Federal Reserve Banks' deposit deadlines and pricing practices for ACH transactions they exchange with private-sector ACH operators should be modified and is now requesting comments on specific modifications that it is considering. The Board believes that adopting these modifications would enhance competition in the provision of ACH operator services A variety of telephone services that require human intervention, including person-to-person calls, collect calls, credit card billing and directory and dialing assistance. Such services are performed by LECs, IXCs and alternative operator services (AOS), organizations that are used by to depository institutions Depository institution A financial institution that obtains its funds mainly through deposits from the public. This includes commercial banks, savings and loan associations, savings banks and credit unions. . |
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