The Federal Financial Institutions Examination Council (FFIEC) proposed guidance to help insured depository institutions improve their disclosure to customers with overdraft protection accounts (www.fdic.gov/news).The Federal Financial Institutions Examination Council The Federal Financial Institutions Examination Council, or FFIEC, is a formal interagency body of the United States government empowered to prescribe uniform principles, standards, and report forms for the federal examination of financial institutions by the Board of (FFIEC) proposed guidance to help insured depository institutions improve their disclosure to customers with overdraft protection accounts (www.fdic.gov/news). The proposal explains how banks can reduce their credit and reputational risk by educating customers to use such accounts more effectively. Comments are due August 6, 2004. The council (www.ffiec.gov) comprises the Board of Governors of the Federal Reserve System Board of Governors of the Federal Reserve System The managing body of the Federal Reserve System, which sets policies on bank practices and the money supply. , the Federal Deposit Insurance Corp., the National Credit Union Administration The National Credit Union Administration (NCUA) is responsible for chartering, insuring, supervising, and examining federal credit unions (FCUs) and for administering the National Credit Union Share Insurance Fund. , the Office of the Comptroller of the Currency and the Office of Thrift Supervision The Office of Thrift Supervision (OTS) was established as a bureau of the Treasury Department in August 1989 as part of a major Reorganization Plan of the thrift regulatory structure mandated by the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA) (12 U.S.C.A. . |
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