December 22, 2003 News Archive

Board Requests Comment on FACT Act Final and Proposed Rules
In a joint press release, the Board and the Federal Trade Commission (FTC) requested comment on interim final rules and proposed rules to establish effective dates for certain provisions of the Fair and Accurate Transactions Act of 2003 (FACT Act). Comments are due by January 12, 2004.

Board Raises Asset-size Exemption Threshold for HMDA Data Collection
In a recent press release, the Board announced that the asset-size exemption threshold for depository institutions under Regulation C (Home Mortgage Disclosure) has been raised to $33 million. Therefore, depository institutions with assets of $33 million or less as of December 31, 2003 are exempt from data collection for 2004. The Board also is publishing technical amendments to Regulation C and the staff commentary to conform them to changes in the standards for defining metropolitan statistical area boundaries made by the U.S. Office of Management and Budget. The adjustment and technical amendments are effective January 1, 2004.