BOARD OF GOVERNORS
OF THE
FEDERAL RESERVE SYSTEM
WASHINGTON, D.C.  20551

DIVISION OF CONSUMER
AND COMMUNITY AFFAIRS

CA 07-07

October 12, 2007

TO THE OFFICERS AND MANAGERS IN CHARGE OF CONSUMER AFFAIRS SECTIONS AT EACH FEDERAL RESERVE BANK AND EACH DOMESTIC AND FOREIGN BANKING ORGANIZATION SUPERVISED BY THE FEDERAL RESERVE:

SUBJECT: Updated Examination Procedures for Regulation DD

The FFIEC Task Force on Consumer Compliance recently approved the attached examination procedures for Regulation DD (Truth in Savings). The updated procedures incorporate all amendments to Regulation DD (and the Official Staff Commentary) since the original release of the procedures in 1993. Among other changes, the procedures now cover the disclosure requirements for institutions advertising the payment of overdrafts. Further, because of pending regulatory changes related to electronic disclosures (see Board press release dated April 20, 2007), procedures covering electronic disclosures are not included in the attached document. Once the Board finalizes these regulatory changes, the examination procedures for Regulation DD will again be updated.

If you have any questions, please contact Kathleen Conley, Supervisory Consumer Financial Services Analyst, at (202) 452-2389.

Sincerely,
(signed)

Sandra F. Braunstein
Director
Division of Consumer and Community Affairs

Attachment

Supersedes: CA 93-8 (August 13, 1993)