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FRS RIN: 7100-AD20 Publication ID: Fall 2008 
Title: ●Regulation AA--Unfair or Deceptive Acts or Practices (Docket No. R-1314) 
Abstract: The Federal Trade Commission Act (15 U.S.C. 41 et seq.)(FTC Act) prohibits unfair or deceptive acts or practices in or affecting commerce. (15 U.S.C. 45(a)(1)) Under section 18f of the FTC Act, the Board (with respect to banks), OTS (with respect to savings associations), and the NCUA (with respect to federal credit unions) may prescribe regulations prohibiting such acts or practices. (15 U.S.C. 57a(f)(1)) In May 2008, the Board, OTS, and NCUA jointly proposed regulations under the FTC Act to protect consumers from engaging in certain acts or practices in connection with consumer credit card accounts and overdraft services for deposit accounts. (73 FR 28904, May 19, 2008) The Board's proposed rule will revise Regulation AA. The comment period on the joint proposal under the FTC Act ends on August 4, 2008. The proposed rule is issued concurrently with other Board proposals addressing credit card accounts and open-end (non-home secured) credit under the Truth in Lending Act (73 FR 28866, May 19, 2008) and addressing overdraft services under the Truth in Savings Act (73 FR 28904, May 19, 2008). 
Agency: Federal Reserve System(FRS)  Priority: Substantive, Nonsignificant 
RIN Status: First time published in the Unified Agenda Agenda Stage of Rulemaking: Proposed Rule Stage 
Major: No  Unfunded Mandates: No 
CFR Citation: 12 CFR 227.1 to 227.2    12 CFR 227.21 to 227.22    ...     (To search for a specific CFR, visit the Code of Federal Regulations.)
Legal Authority: 15 USC 57a(F)   
Legal Deadline:  None
Timetable:
Action Date FR Cite
Board Requested Comment  05/19/2008  73 FR 28904   
Board Expects Further Action By  12/00/2008    
Regulatory Flexibility Analysis Required: Undetermined  Government Levels Affected: None 
Small Entities Affected: Businesses  Federalism: No 
Included in the Regulatory Plan: No 
RIN Data Printed in the FR: No 
Agency Contact:
Benjamin K. Olson
Attorney
Federal Reserve System
Division of Consumer and Community Affairs,
Phone:202 452-2826