Regulatory Roundup: Open For Comment

EXEMPT MULTIPLES: Proposal by the Office of Thrift Supervision clarifying when a unitary thrift holding company is allowed to own more than one thrift and still engage in nonfinancial activities. Published Feb. 8. Comments due April 9.

EFT '99: Advanced notice of proposed rulemaking by the Treasury Department 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. Published in the Federal Register on Jan. 8. Comments due April 8.

RECEIVERSHIPS: Proposal by the Federal Deposit Insurance Corp. to clarify that, acting as a receiver for a failed bank or thrift, the agency typically will not seek to reclaim assets that the institution transferred as part of a securitization or loan participation. Published Dec. 30. Comments due March 1.

TAXES: Interim rule by the Internal Revenue Service lets taxes be paid by credit or debit card. The IRS will not pay processing fees, and credit card companies will not be permitted to use the information they collect for marketing purposes. Published Dec. 15. Effective Jan. 1. Comments due March 15.

CHECK CLEARING: Proposal by the Federal Reserve Board to shorten to four days from five the amount of time a bank generally has to credit an out-of- town check to a customer's account. Published Dec. 14. Comments due March 15.

MONEY LAUNDERING: Proposal by the four bank and thrift regulators to have banks institute "know-your-customer" policies. The rule would require management to identify typical transactions handled by the bank and then watch for deviations. Published Dec. 7. Comments due March 8.

LOSS RESERVES: The Basel Committee on Banking Supervision on Oct. 14 proposed global standards for loan-loss reserves and loan classifications. Comments due March 15.