Contains examination objectives, procedures, and other instructions for planning and conducting consumer compliance and Community Reinvestment Act examinations and for preparing and distributing examination findings.

The handbook is intended as guidance for Federal Reserve examiners and other supervisory personnel and should not be considered a legal reference to the regulations of the Federal Reserve Board or to federal banking laws.

Since the late 1960s, Congress has enacted a number of consumer protection and civil rights laws directly related to the activities of financial institutions. Most transactions involving consumers and financial institutions are covered by these laws.

The Board of Governors is responsible for administering and enforcing the laws for state-chartered banks that are members of the Federal Reserve System (state member banks)—and, with respect to some of the laws, for foreign banking organizations.

Oversight of this area is assigned to the Board’s Division of Consumer and Community Affairs; direct supervision of individual institutions to determine their compliance with the laws, and the implementing regulations, is largely the responsibility of the Federal Reserve Banks, operating under delegated authority. Specially trained consumer compliance examination staff help carry out the Board’s consumer compliance supervision program.

Intended Use
This Consumer Compliance Handbook provides Federal Reserve examiners (and other System compliance personnel) with background on the consumer compliance regulations and statutes covered by the Board’s consumer compliance supervision program and guidelines for conducting consumer compliance examinations. Others in the compliance profession may also find it useful.

The Handbook describes each regulation (or, if no regulation exists, the statute) and, for most of the regulations, provides examination objectives, examination procedures, and a detailed examination checklist. Although most of the regulations are discussed in some detail, the discussions are not intended as a substitute for the regulation (or the statute). For complete information, examiners should refer to the regulation itself, as well as the statute, official interpretations, and any related CA Letters issued by the Division of Consumer and Community Affairs.

The Handbook primarily concerns examinations of state member banks, but it also covers supervisory activities related to foreign banking offices. For simplicity, most discussions refer to ‘‘state member banks’’ (or just ‘‘banks’’), even when they may apply to foreign banking offices. In addition, the material on risk-focused consumer compliance supervision, which is currently being revised, applies in part to the supervision of LCBOs (large complex banking organizations), including those without a state member bank.

Download Consumer Compliance Handbook

PDF format, 1.7MB, 507Pages.

Division of Consumer and Community Affairs

CONTENTS
About this Handbook
I. Risk-Focused Consumer Compliance Supervision Framework
II. Deposit-Related Regulations and Statutes
Regulation E (Electronic Fund Transfers)
Regulations Q and D (Interest on Demand Deposits/Reserve Requirements)
Regulation CC (Availabilityof Funds and Collection of Checks)
Regulation DD (Truth in Savings)
III. Credit-Related Regulations and Statutes
Regulation C (Home Mortgage Disclosure)
Regulation H (Flood Insurance)
Fair Credit Reporting
Regulation Z (Truth in Lending)
Fair Debt Collection Practices Act
Homeowners Protection Act
Homeownership Counseling
Real Estate Settlement Procedures Act
Special Provisions for Service Members (Talent Amendment)
IV. Other Regulations, Rules, Policies, and Statutes
Regulation G (Disclosure and Reporting of CRA-Related Agreements: CRA Sunshine Requirements)
Regulation H (Section 109 of the Riegle–Neal Interstate Banking and Branching EfficiencyAct)
Regulation M (Consumer Leasing)
Regulation P (Privacyof Consumer Financial Information)
Regulation AA (Unfair or Deceptive Acts or Practices: Credit Practices Rule)
Federal Trade Commission Act (Section 5)
Branch Closings
Children’s Online PrivacyProtection Act
Right to Financial PrivacyAct

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