For immediate release

The Federal Reserve Board announced today that the Consumer Advisory Council will hold its next meeting on Thursday, October 21. The meeting will take place in the Board Room on the 2nd floor in the Board's Eccles Building. The session will begin at 8:45 a.m. and is open to the public. The Council's function is to advise the Board on the exercise of its responsibilities under the Consumer Credit Protection Act and on other matters on which the Board seeks its advice. Time permitting, the Council will discuss the following topics: Electronic Delivery of Disclosures Proposals Regulation B Proposal Subprime Lending Reports by committees and other matters previously considered by the Council or initiated by the Council members may also be discussed. The Board invites comment from the public on any of these matters. FEDERAL RESERVE SYSTEM Consumer Advisory Council Notice of Meeting of Consumer Advisory Council The Consumer Advisory Council will meet on Thursday, October 21, 1999. The meeting, which will be open to public observation, will take place at the Federal Reserve Board's offices in Washington, D.C., in the Board Room of the Eccles Building (2nd floor). The meeting will begin at 8:45 a.m. and is expected to conclude at 1:00 p.m. The Eccles Building is located on C Street, Northwest, between 20th and 21st Streets. The Council's function is to advise the Board on the exercise of the Board's responsibilities under the Consumer Credit Protection Act and on other matters on which the Board seeks its advice. Time permitting, the Council will discuss the following topics: Electronic Delivery of Disclosures Proposals     The Depository and Delivery Systems and the Consumer Credit Committees will lead a discussion about the proposals to permit electronic delivery of federally mandated disclosures under certain consumer financial services and fair lending laws such as the Truth in Lending and Equal Credit Opportunity Acts. Regulation B Proposal     The Bank Regulations Committee will lead a discussion of proposed revisions to Regulation B which implements the Equal Credit Opportunity Act. Subprime Lending     The Community Affairs and Housing Committee will lead a discussion of issues regarding lenders' subprime lending practices. Members Forum     Individual Council members will present views on economic conditions present within their industries or local economies. Committee Reports     Council committees will report on their work. Other matters previously considered by the Council or initiated by Council members also may be discussed. Persons wishing to submit views to the Council regarding any of the above topics may do so by sending written statements to Ann Bistay, Secretary of the Consumer Advisory Council, Division of Consumer and Community Affairs, Board of Governors of the Federal Reserve System, Washington, D.C. 20551. Information about this meeting may be obtained from Ms. Bistay, 202-452-6470. Telecommunications Device for the Deaf (TDD) users may contact Diane Jenkins, 202-452-3544. Board of Governors of the Federal Reserve System, September 27, 1999. (Signed Jennifer J. Johnson) Jennifer J. Johnson Secretary of the Board

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