April 12, 2004 News Archive

December 2003 Peer Data Now Available
The updated December 2003 Peer Data is now available. The custom de novo peer methodology developed includes banks of up to eight years of age with no size restriction. The focus of this data is on new banks "built from the ground up" rather than banks created from existing branches or institutions.

Board Requests Comments on Proposed Amendments to Regulation V
The Board has proposed amendments to Regulation V, which implements the Fair Credit Reporting Act (FCRA). The amendments entail adding a model for financial institutions to use if they furnish negative information to consumer reporting agencies.

The Board is required to issue, after notice and comment, a concise model form (not exceeding 30 words) that financial institutions may use to comply with the notice requirement for furnishing negative information to consumer reporting agencies. The final version of this model form must be issued by June 4, 2004.

Comments must be received by May 9, 2004.

FFIEC Releases Revised Retail Payment Systems Guidance
In a press release, the FFIEC announced that it has issued a revised Retail Payment Systems Booklet, which provides guidance on the risk and risk-management practices applicable to financial institutions' retail payment system activities. This booklet is the latest in a series of updates to the 1996 FFIEC Information Systems Examination Handbook.