For immediate release

The Federal Reserve Board today requested public comment on a proposed rule that would allow financial holding companies to act as a "finder" by bringing together buyers and sellers of financial and nonfinancial products for transactions that the buyers and sellers themselves negotiate and consummate. Comment is requested by September 5, 2000. The proposed rule, which was developed in consultation with the Secretary of the Treasury, would allow financial holding companies to, among other things, host an Internet marketplace consisting of links to the web sites of third-party buyers and sellers. It also would permit financial holding companies to operate a web site that allows buyers and sellers to post information concerning the products and services they are willing to buy and sell and to enter into transactions among themselves. The Board's notice is attached. Attachment (33 KB PDF)

2000 Banking and consumer regulatory policy