August 15, 2005 News Archive

Board Adjusts Disclosure Requirements Under the Truth In Lending Act
The Board published the annual adjustment of the dollar amount that triggers additional disclosure requirements, under the Truth in Lending Act, for home mortgage loans that bear rates or fees above a certain amount. The dollar amount of the fee-based trigger has been adjusted to $528 for 2006, and is effective Jan. 1, 2006.

FFIEC Announces Availability of 2004 Lending Data
The FFIEC press release announces the availability of data on small business, small farm, and community development lending reported by certain commercial banks and savings institutions, pursuant to the Community Reinvestment Act.

Basel Revises Corporate Governance Paper
The Basel Committee on Banking Supervision has issued for comment revised guidance for banks on sound corporate governance practices. The revised guidance builds on a paper issued in 1999 and reflects lessons learned from Enron and other corporate financial scandals. Specifically, it highlights the importance of preventing conflicts of interest, promoting transparency, and ensuring the independence of boards of directors and of internal and external auditors.