CREDIT REPORTING: The Comptroller's Office and the Federal Trade Commission are working on joint guidelines urging subprime lenders to report positive borrower payment histories to credit bureaus.
EFT ACCOUNTS: The Treasury Department is expected by the end of June to finalize a rule on low-cost bank accounts for recipients of electronically delivered federal benefits. The rule will set standards for such accounts.
THRIFT RULE: The Office of Thrift Supervision is expected to issue a rule by yearend to clarify when a unitary thrift holding company may own more than one thrift but still engage in nonfinancial activities.
EFT '99: The Treasury may issue a proposal on whether banks, thrifts, and credit unions should be allowed to subcontract electronic benefit transfer services with unregulated institutions, such as check cashers, currency dealers, and money transmitters. Comments on an advanced notice of proposed rulemaking were due April 8, but the Treasury is not certain if or when it will issue a proposal.
SUSPICIOUS ACTIVITY: The Treasury Department's Financial Crimes Enforcement Network is expected to propose a rule this summer requiring securities brokers and dealers to report suspicious transactions by customers.
Similarly, Fincen expects to approve a final rule requiring other nonbanks-such as check cashers and currency exchanges-to report suspicious customer activity.
FAILED BANKS: The FDIC by August is expected to propose barring people who helped cause the failure of a bank or thrift from buying that institution's assets.
LOAN POOLING: The Small Business Administration expects to propose a rule by early July that would let small banks pool and sell the nonguaranteed portions of their 7(a) loans.
