In Brief: Fed Gives a Breather on E-Document Rule

WASHINGTON — The Federal Reserve Board has indefinitely postponed the compliance deadline for its interim rule governing the delivery of loan disclosure documents in electronic form.

In a press release Friday, the Fed said that comment letters from industry representatives had indicated that institutions affected by the rule would need more time.

The Fed also said that it is considering additional changes to the rule as a result of the comments it received. No new compliance date will be set until the changes are complete.

For reprint and licensing requests for this article, click here.
MORE FROM AMERICAN BANKER