← Independent regulator rules (SEC/Fed/FDIC/SBA/FTC/NCUA/CPSC/FHFA/EEOC/NLRB)

Truth in Savings (Regulation DD)

Fed · final-rule · Published 2014-05-29 · Effective 2014-06-30 · 79 FR 30711

Document

Document number
2014-12356
Federal Register citation
79 FR 30711
CFR reference
12 CFR 230
Type
Rule
Action
Final rule.
Category
final-rule
Agency
US Federal Reserve System
Publication date
2014-05-29
Effective date
2014-06-30
Docket
Docket No. R-1482

Abstract

The Board of Governors of the Federal Reserve System (Board) is repealing its Regulation DD, 12 CFR part 230, which was issued to implement the Truth in Saving Act (TISA). Title X of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) transferred rulemaking authority for a number of consumer financial protection laws, including TISA, from the Board to the Bureau of Consumer Financial Protection (Bureau). In December 2011, the Bureau published an interim final rule establishing its own Regulation DD to implement TISA (Bureau Interim Final Rule). The Bureau Interim Final Rule substantially duplicates the Board's Regulation DD. Under section 1029 of the Dodd-Frank Act, the Board retains authority to issue rules for certain motor vehicle dealers that offer consumer financial services and are not subject to the Bureau's regulatory authority. The Board is not aware of any entities that are motor vehicle dealers engaging in activities subject to TISA that would be subject to the Board's rulemaking authority under section 1029 of the Dodd-Frank Act. Accordingly, the Board is repealing its Regulation DD.

Source

Authoritative
Federal Register document
Machine
JSON-LD · Markdown