Printer Friendly

Final rule amending Regulation B published. (Announcements).

The Federal Reserve Board on March 5, 2003, announced that it had published a final rule amending Regulation B, which implements the Equal Credit Opportunity Act. The Board approved the final rule at its meeting on February 19, 2003.

The ECOA prohibits discrimination on the basis of a credit applicant's national origin, marital status, religion, color, sex, race, age, receipt of public assistance benefits, or the exercise of rights under the Consumer Credit Protection Act. Among other things, the final rule addresses the collection of applicants' personal characteristics in connection with nonmortgage credit and record retention for prescreened solicitations.

The final rule amending Regulation B was effective April 15, 2003. However, to allow time for any necessary operational changes, the mandatory compliance date is April 15, 2004.

The rule will be published in the Federal Register shortly.
COPYRIGHT 2003 Board of Governors of the Federal Reserve System
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2003, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

 
Article Details
Printer friendly Cite/link Email Feedback
Publication:Federal Reserve Bulletin
Date:Apr 1, 2003
Words:137
Previous Article:Approval of final rule amending Regulation B. (Announcements).
Next Article:Proposed amendment to Regulation C. (Announcements).


Related Articles
Comments on revenue ruling 90-105: timing of deduction for section 401(k) contributions December 20, 1990.
IRS severely limits methods of disclosure.
New fringe benefit regulations make useful changes to car and plane valuation rules.
Sourcing of capital losses under Sections 861, 865, and 904: October 17, 1996.
JOINT FINAL RULE--AMENDMENTS TO SAFETY AND SOUNDNESS STANDARDS.
Announcements.
Approval of final rule amending Regulation B. (Announcements).
Agencies issue FACT Act interim final rules on medical information.
Federal Acquisition Circular 2001-24 (June 18, 2004).

Terms of use | Privacy policy | Copyright © 2018 Farlex, Inc. | Feedback | For webmasters