December 27, 2004 News Archive

Public Comment Solicited on Data Collection Changes for Shared National Credits
The Federal bank and thrift regulatory agencies have requested public comment on changes to the SNC or Shared National Credit program. The proposed changes are designed to enhance the program's efficiency, support risk-focussing efforts, and provide comparative credit risk information. Comments are due by February 15, 2005.

Agencies Announce Final Rule on Disposal of Consumer Information
In a joint press release, the federal regulatory agencies announced final rules to require financial institutions to adopt measure for properly disposing of consumer information derived from credit reports. The final rules will take effect on July 1, 2005.

FDIC Issues Study on Identity Theft and Seeks Comments on Possible Guidance to Bankers
The Federal Deposit Insurance Corporate (FDIC) released a study on a type of identity theft known as account-hijacking, one of the fastest growing forms of identity theft in the country. The agency is soliciting comments on the study, Putting an End to Account-Hijacking Identity Theft, that it hopes to use to formulate guidance to bankers next year.