MONEY LAUNDERING: Regulators are expected to propose in early 1998 long-delayed rules governing how federal financial institutions verify the identity of their customers. Regulators have been working on draft "know- your-customer" rules, which are meant to deter money launderers, since May 1996.

LENDING DISCLOSURES: The Fed and the Department of Housing and Urban Development plan to issue a legislative proposal before the end of March detailing how Congress should combine the disclosures required by the Truth-in-Lending and Real Estate Settlement Procedures acts. The Fed requested recommendations April 2, and comments were due June 30. The Fed's Consumer Advisory Council in October recommended simplifying rate disclosures for homebuyers and tightening limits on fees for home equity loans.

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