AGENCIES EXTEND EFFECTIVE DATE ON BANK INSURANCE RULES.
The final rules implement section 305 of the Gramm-Leach-Bliley Act and were jointly published on December 4, 2000, by the Federal Deposit Insurance Corporation, the Board of Governors of the Federal Reserve System, the Office of the Comptroller of the Currency, and the Office of Thrift Supervision.
After issuing the final rules, the banking agencies found that a significant number of institutions required additional time to fully implement the requirements of the regulation by the April 1 effective date. The extension will allow more time to change systems, alter forms, gain state regulatory approvals, and train personnel.
|Printer friendly Cite/link Email Feedback|
|Publication:||Federal Reserve Bulletin|
|Article Type:||Brief Article|
|Date:||May 1, 2001|
|Previous Article:||FEDERAL BANKING AGENCIES ALLOW PRIVACY NOTICES UNDER EXISTING FAIR CREDIT REPORTING ACT.|
|Next Article:||REVISED BROCHURE ON HOME EQUITY LINES OF CREDIT.|