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FRS | RIN: 7100-AE19 | Publication ID: Spring 2015 |
Title: Regulation AA--Unfair or Deceptive Acts or Practices (Docket No: R-1490) | |
Abstract:
Proposal to repeal Regulation AA, which prohibited certain unfair or deceptive credit practices and described the Board of Governors of the Federal Reserve System (Board) internal procedures for handling consumer complaints. Regulation AA was issued pursuant to the Board's rule writing authority under section 18(f)(1) of the Federal Trade Commission Act (FTC Act or Act). Section 1092(2) of the Dodd-Frank Wall Street Reform and Consumer Protection Act repealed section 18(f)(1) of the FTC Act, thus eliminating the Board's rule writing authority under the Act. |
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Agency: Federal Reserve System(FRS) | Priority: Substantive, Nonsignificant |
RIN Status: Previously published in the Unified Agenda | Agenda Stage of Rulemaking: Proposed Rule Stage |
Major: No | Unfunded Mandates: No |
CFR Citation: 12 CFR 227 | |
Legal Authority: 5 U.S.C. 1902(2) |
Legal Deadline:
None |
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Timetable:
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Regulatory Flexibility Analysis Required: No | Government Levels Affected: None |
Small Entities Affected: No | Federalism: No |
Included in the Regulatory Plan: No | |
RIN Data Printed in the FR: No | |
Agency Contact: Mandie Aubrey Counsel Federal Reserve System Division of Community and Consumer Affairs, Washington, DC 20551 Phone:202 452-2595 |