December 1, 2003 News

Board Issues Guidance on Change in Bank Control Procedures offsite link
Due to some recent "inadvertent incidents of unauthorized changes of ownership," the Board issued SR 03-19, which identifies when an individual or other affected party should contact the Federal Reserve regarding the filing of a notice under the Change in Bank Control Act and the Board's implementing regulations.

Board Releases Latest Beige Book offsite link
The Board released its most recent Beige Book dated November 26, 2003, with all twelve Districts reporting that the economy continued to improve in October and early November. Virtually all Districts continued to report concerns about rising healthcare costs. Details are available in the full report, including individual Reserve Bank summaries.

Board Requests Comment on Proposed Amendments to Five Consumer Protection Regulations offsite link
In a recent press release, the Board published proposed rules to establish more uniform standards for providing disclosures under five consumer protection regulations: B (Equal Credit Opportunity); E (Electronic Fund Transfers); M (Consumer Leasing); Z (Truth in Lending); and DD (Truth in Savings). Comment is requested by January 30, 2004.

Supervision & Regulation