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FRS RIN: 7100-AD20 Publication ID: Spring 2009 
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 (73 FR 28904, May 19, 2008). In December 2008, the Board, OTS, and NCUA jointly adopted as final rules revised versions of most of the proposed regulations regarding consumer credit card accounts, but did not adopt the proposed regulations regarding overdraft services (74 FR 5498, January 29, 2009). Instead, the Board proposed regulations addressing overdraft services under the Electronic Fund Transfer Act (15 U.S.C. 1693 et seq.) (74 FR 5212, January 29, 2009). 
Agency: Federal Reserve System(FRS)  Priority: Substantive, Nonsignificant 
RIN Status: Previously published in the Unified Agenda Agenda Stage of Rulemaking: Completed Actions 
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 Adopted Final Rule  01/29/2009  74 FR 5498   
Regulatory Flexibility Analysis Required: No  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