MONEY LAUNDERING: Proposal by the Federal Reserve Board to help banks spot illegal activity by customers. The flexible "know-your-customer" rule would require banks to profile customer banking habits and then watch for deviations. Nearly identical rules are expected in the next few weeks from the Office of the Comptroller of the Currency and the Office of Thrift Supervision. To be published jointly in the Federal Register. Comments due 60 days after publication.
BUSINESS LOANS: Under an interim final rule, the National Credit Union Administration voted to cap credit union business lending at the lesser of 1.75 times net worth or 12.25% of total assets. Business loans for less than $50,000 are excluded from the cap. Published and effective Sept. 29. Comments due Nov. 30.
FOREIGN BANKS: Under an interim rule, the Fed will examine the U.S. operations of well-managed, well-capitalized foreign banks once every 18 months, rather than once a year. Published and effective Aug. 28. Comments due Oct. 27.
CREDIT UNIONS: Proposal by the NCUA to set parameters on community-based credit unions, to define who in a family is eligible for credit union membership, and to implement other provisions of the new credit union law. Published Sept. 14. Comments due Nov. 13.
DEPOSIT INSURANCE: Proposal by the Federal Deposit Insurance Corp. to expand and simplify deposit insurance coverage of joint accounts and payable-on-death accounts. Published July 17. Comments due Oct. 15.