SERVICING ASSETS: Federal banking regulators doubled to 100% the amount of servicing assets-including purchased credit card relationships-that banks and thrifts may count as Tier 1 capital. Purchased credit card relationships and non-mortgage-servicing assets may make up no more than 25% of Tier 1 capital, and all servicing assets must be discounted by 10%. Published Aug. 10. Effective Oct. 1, but early adoption is permitted.

TRIBAL LENDING: The Office of the Comptroller of the Currency on Aug. 5 issued guidance to help Native American tribes open or acquire national banks.

FAIR CREDIT: The OCC on Aug. 4 issued guidance giving national bank examiners broad authority to investigate possible Fair Credit Reporting Act violations. Examiners must launch credit reporting investigations if they uncover "any specific information" about possible abuses.

CD RATES: The Federal Reserve Board finalized a three-year-old interim rule on interest rate disclosures for certain certificates of deposit. The new rule lets banks disclose the simple interest rate-rather than the annual percentage yield-on multiyear CDs that distribute interest at least annually rather than compounding it. Published July 30. Effective Aug. 28.

FHLB FINANCES: The Federal Housing Finance Board required financial disclosures of the 12 Home Loan banks to conform to the reporting requirements of the Securities and Exchange Commission. New information required includes the top five capital stock holders of each bank, advances to member institutions with officers serving on the Home Loan bank's board, and expanded disclosure about derivatives and risk-management practices. Published July 24. Effective Aug. 24.

LARGE BANKS: The OCC on July 22 updated its handbook for examining large national banks. The revisions are intended to improve supervision-by-risk policies and halt the erosion of underwriting standards.

RESPA REFORM: The Fed and the Department of Housing and Urban Development on July 17 issued a legislative proposal for overhauling the disclosures required by the Truth-in-Lending and Real Estate Settlement Procedures acts.

ARMs: The Office of Thrift Supervision adopted a final rule, identical to the Fed's Regulation Z, to simplify disclosure requirements for adjustable-rate mortgages. Published on and optional compliance by July 17. Mandatory compliance by Oct. 1.

FASTER APPLICATIONS: The FDIC adopted a final rule to speed the processing of merger, branch, and deposit insurance applications submitted by well-capitalized, well-managed institutions. To be published in the Federal Register. Effective Oct. 1.

MINORITY BUSINESS: The OCC on July 16 issued guidelines designed to help national banks lend more to minority-run small businesses.

ON-LINE BANKING: Federal banking regulators on July 16 issued guidelines to help banks comply with consumer disclosure requirements and other rules when offering electronic services and advertising on-line.

MINORITY LENDING: The OTS on June 30 issued new guidelines for lending programs aimed at disadvantaged borrowers. Thrifts must establish plans in writing and describe the class of borrowers who will benefit. Thrifts must also have detailed procedures and standards for extending credit under the program.

FHLB MEMBERSHIP: The Finance Board permitted small banks to count loans secured by farm or business properties toward the Home Loan Bank System's membership requirement, provided that the properties include a permanent residence. Published June 29. Effective July 29.

PAYMENT SYSTEMS: The Fed updated its risk-management rules for privately operated multilateral settlement systems that have an aggregate gross volume of more than $5 billion a day. Operators of these systems must address credit, liquidity, operational, and legal risks. Published June 26. Effective Jan. 4.

ON-LINE PRIVACY: To help national banks protect confidential customer data, the OCC on June 12 announced it had established a Privacy Working Group. The group will develop model disclosures that national banks can use to inform consumers about how their data will be used, including whether the data will be shared with outside parties.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.