MONEY LAUNDERING: Proposal by the four bank and thrift regulators to have banks institute "know-your-customer" policies. The rules would require banks to profile customer banking habits and then watch for deviations. Published jointly in the Federal Register on Dec. 7. Comments due March 8.
LEASING: Proposal by the Federal Reserve Board to amend the consumer leasing staff commentary. The revised version would explain how to estimate official fees and taxes, and would describe disclosures that must be made when a lease is extended. Published Dec. 3. Comments due Jan. 22.
CREDIT CARDS: Proposal by the Fed to clarify which types of bank-issued cards qualify as credit cards. Published Dec. 3. Comments due Jan. 22.
CU CONVERSIONS: Under an interim rule, the National Credit Union Administration made it easier for credit unions to convert to mutual savings banks. Credit unions no longer need the agency's prior approval to convert, and they can do so based on a majority of voting members, rather than a majority of both voting and nonvoting members. Published and effective Nov. 27. Comments due Feb. 25.
EFT ACCOUNTS: Proposal by the Treasury Department to set standards on low-cost bank accounts to be used by recipients of electronically delivered federal benefits. Any federally insured financial institution could offer these accounts under contract with the government, provided they charged monthly fees of no more than $3 per account and permitted four free withdrawals a month. The Treasury would offer a setup payment of $12.60 per account. Published Nov. 23. Comments due Jan. 7.
CU CAPITAL: Proposal by the NCUA to create a prompt corrective action system. To be considered well capitalized, a credit union would have to have net worth of 7%. Published Oct. 29. Comments due Jan. 27.
YEAR-2000: Under an interim rule, bank and thrift regulators made it easier to force institutions to comply with year-2000 requirements. Published and effective Oct. 15. Comments due Dec. 14.
LOSS RESERVES: The Basel Committee on Banking Supervision on Oct. 14 proposed global standards for loan-loss reserves and loan classifications. The proposal suggested that banks charge off loans when it becomes probable that the borrower will not repay. Comments due March 15.
BUSINESS LOANS: Under an interim rule, the NCUA capped credit union business lending at the lesser of 1.75 times net worth or 12.25% of total assets. Business loans of less than $50,000 are excluded from the cap. Published and effective Sept. 29. Comment period extended to Jan. 29.