February 18, 2002 News Archive

Supervision Activity Survey
Interested in providing your feedback about the Banking Supervision process? You may have the opportunity to do so with a new survey process instituted in 2002. In conjunction with completed examinations and inspections, institutions will be asked toprovide feedback on the examination process, interactions with staff, select publications and Banking Supervision's content on chicagofed.org. While paper survey forms will accompany institutions' examination reports or holding company assessments, there will also be an opportunity to complete the survey on-line. Please note that individual survey responses are confidential and will only be shared within the Federal Reserve Bank of Chicago for purposes of improving services and interactions. Your feedback is appreciated. Questions or comments regarding the survey process may be directed to Cathy Casazza, at 312 322-5398 or e-mail Catherine.Casazza@chi.frb.org.

Board Revises Regulation C (HMDA) and Seeks Public Comment on Additional Items
In a recent press release, the Board published revisions to Regulation C, which implements the Home Mortgage Disclosure Act (HMDA), and also requested comments on additional proposed revisions to the regulation.

Federal Agencies Publish Consumer Guide on Privacy Notices
The agencies announced in a joint press release the issuance of a brochure (PDF) titled "Privacy Choices for your Personal Financial Information" in conjunction with National Consumer Protection Week. The guide is intended to help consumers make informed choices about whether to allow their personal financial information to be shared.

Sarbanes Announces Hearing on Accounting and Investor Protection Issues
Senate Banking Committee Chairman Paul S. Sarbanes announced that an oversight hearing on accounting and investor protection issues will be held by the full Committee on February 14. Testimony will focus on the International Accounting Standards Committee's accounting and auditing standards; an assessment of special purpose vehicles under these standards; and a discussion of efforts to achieve convergence in accounting standards around the world. Former Fed Chairman Paul Volcker and Sir David Tweedie, Chairman of the International Accounting Standards Board, are scheduled to testify.

Governor Olson Remarks on the Evolution of the Financial Services Industry and Public Policy
In a speech delivered at the University of Miami School of Law in Miami Beach, Florida, Governor Mark W. Olson remarked on developments in the financial services industry since the passage of the Gramm-Leach-Bliley Act (GLBA). He identified bank safety and soundness and antitrust enforcement as two critical areas facing bank supervisors. He also believes that the regulatory system set up by GLBA provides a sound and workable model for maintaining a secure and competitive financial system.