Capitol Comments
May 2012
When there is a deadline associated with an item, you will see this graphic:
Recent News
Average debit card interchange fees decline for non-exempt issuers
The Federal Reserve Board published comparative information1 on the average debit
card interchange fees that each payment card network charges acquirers (and indirectly
merchants) and provides to debit card issuers.
As part of the rulemaking process, the Board collected 2009 data from payment card
networks. The aggregate data provided by the networks indicated that the average
interchange fee for all issuers was 43 cents. Data collected after the rule took effect show
that the average interchange fee per transaction received by non-exempt issuers in the
fourth quarter of 2011 declined substantially to 24 cents while the average interchange
fee received by exempt issuers, which includes debit card issuers with consolidated
assets of less than $10 billion, was 43 cents.
The disparity that existed in 2009 between fees charged on debit card transactions
requiring a signature and fees charged on transactions requiring a PIN narrowed
substantially, especially for non-exempt issuers.
The Board plans to collect and publish this fee information annually.
Ishimaru named Director of CFPB Office of Minority & Women Inclusion
Attorney Stuart Ishimaru was introduced as the Director of the Office of Minority and
Women Inclusion at the CFPB. Mr. Ishimaru was at the EEOC for nine years and was
appointed its Acting Chairman in 2009. He was the first Administration official to
testify before Congress in support of the proposed Employment Nondiscrimination Act,
which would prohibit employment discrimination based on sexual orientation and
gender identity. Earlier in his career, he was Acting Staff Director of the U.S.
Commission on Civil Rights and served as Deputy Assistant Attorney General at the
Department of Justice in its Civil Rights Division. Mr. Ishimaru says the OMWI will
ensure the CFPB fulfills its commitment to diversity by:
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Developing and implementing standards of equal employment;
Developing standards for assessing the diversity policies and practices of CFPBregulated entities;
Advising on the impact of Bureau policies and regulations on minority and
women-owned businesses; and
Coordinating with the Director to create and implement solutions to civil rights
violations.
Comment: The Interagency Regulated Entities Subcommittee, made up of the FRB, OCC,
FDIC, NCUA, SEC, CFPB, and FHFA, is working to develop standards that assess the
diversity policies and practices of their regulated entities as required in Dodd-Frank
section 342.
Comment period extended on CFPB request for information on overdraft
programs
On February 28, 2012, the CFPB published in the Federal Register a notice and request
for information regarding the impacts of overdraft programs on consumers (the
Overdraft Notice) at 77 FR 120312. The Overdraft Notice allowed a 60-day comment
period, closing on April 30, 2012. To allow parties more time to consider and craft their
responses, the Bureau has determined that an extension of the comment period until
June 29, 20123, is appropriate.
Comment: In its request for comments, the CFPB used statistics from an FDIC overdraft
protection study and stated that they show that over nine percent of account customers
pay 84% of overdraft fees. While that statistic is true, conversely approximately 91% of
accountholders bore only approximately 16% of overdraft-related fees. A closer
examination of the FDIC’s statistics reflects that 75% of account owners paid no overdraft
related fees at all. These statistics reveal that the vast majority of bank customers are not
writing checks without funds in their account, are balancing their checkbooks, are using
ACH and online billpay appropriately, and are using their debit cards responsibly. If you
have an overdraft protection program, we urge you to submit answers to the CFPB’s
questions on or before the end of the comment period.
FDIC and SBA Financial Education for Entrepreneurs
The FDIC and SBA today announced new resources to support small businesses across
the nation: Money Smart for Small Business, a training curriculum for new and aspiring
business owners. Developed in partnership between both agencies, this curriculum is
the latest offering in the FDIC’s Money Smart program.
Money Smart for Small Business provides an introduction to day-to-day business
organization and planning and is written for entrepreneurs with limited or no prior
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formal business training. It offers practical information that can be applied
immediately, while also preparing participants for more advanced training.
Each of the ten instructor-led modules in Money Smart for Small Business provides
financial and business management for business owners and includes a scripted
instructor guide, participant guide and overhead slides. Organizations that use the
curriculum to support small businesses through training, technical assistance or
mentoring are invited to join the FDIC and SBA’s Training Alliance. The FDIC will host
an online “town hall” for potential Training Alliance partners in the months ahead.
The curriculum is free of charge and available here4.
Comment: The curriculum is designed to be delivered to new and aspiring business
owners by financial institutions and small business development centers, among others.
FDIC statement on CFPB MLO compensation bulletin
The FDIC issued a statement (FIL-20-20125) on CFPB Bulletin 2012-02.6 The CFPB bulletin
was issued to provide additional guidance on permissible forms of compensation to loan
originators under the Truth in Lending Act - Regulation Z's Compensation Rules (12 C.F.R. §
1026.367). The Bulletin addresses whether and how the Compensation Rules apply to qualified
profit-sharing, 401(k), and employee stock ownership plans (collectively, Qualified Plans).
Specifically, the CFPB indicates that the Compensation Rules permit employers to contribute to
Qualified Plans out of a profit pool derived from mortgage originations. The CFPB does not
provide guidance on profit-sharing arrangements or plans that are "not in the nature of Qualified
Plans," but indicates it anticipates providing greater clarity in a future rulemaking.
Comment: The FDIC Bulletin says that examinations will consider the specific facts and
the totality of the circumstances at each financial institution to determine if a financial
institution is complying with the Compensation Rules, consistent with Regulation Z and
CFPB Bulletin 2012-02.
CFPB to recognize disparate impact in fair lending
In an April 18th press release8, the CFPB announced that it will use “all available
avenues, including disparate impact, to pursue lenders whose practices discriminate
against consumers.” The CFPB also compiled a consumer brochure with discrimination
tips and warning signs.9 The CFPB issued Bulletin 2012-2410 (Bulletin) to provide
guidance about compliance with the fair lending requirements of the Equal Credit
Opportunity Act and its implementing regulation, Regulation B. In the Bulletin, the
CFPB stated that they concur with the Policy Statement on Discrimination in Lending,11
which was issued by the Interagency Task Force on Fair Lending.
Comment: In the Bulletin, the CFPB states:
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The applicability of disparate impact doctrine, also known as the “effects test,” to
credit transactions is reflected in the legislative history of the ECOA. Regulation B,
which the Federal Reserve Board adopted to implement the ECOA, provides that:
The legislative history of the Act indicates that the Congress intended an
“effects test” concept, as outlined in the employment field by the Supreme
Court in the cases of Griggs v. Duke Power Co., 401 U.S. 424 (1971), and
Albemarle Paper Co. v. Moody, 422 U.S. 405 (1975), to be applicable to a
creditor’s determination of creditworthiness.
Although the federal regulators are not going to back off from disparate impact any time
soon, the ECOA, legislative history, and Supreme Court cases do not support the
proposition. The ECOA does not contain a disparate impact or effects test. From what the
editor has read, the legislative history mentioned is merely statements made in
committee reports regarding amendments that don’t affect the credit discrimination
prohibitions in ECOA, and the Supreme Court in the Griggs case didn’t rely on the
language in Title VII that is similar to the ECOA.
The CFPB’s embrace of disparate impact was unfortunate, but expected. The unfortunate
part of this approach is that community banks don’t intend to discriminate and, unlike
the big banks, don’t have a cadre of fair lending attorneys. When, despite the best efforts
of community bankers, the regulators’ statistical analyses reflect disparate impact on a
protected class, these well-meaning bankers are often treated as if they’d intentionally
discriminated against the protected class.
The editor hopes that when any federal regulator finds disparate impact in lending,
despite the lender’s best efforts, it will work with the lender to get their lending practices
into line with regulatory expectations rather than referring them to the Department of
Justice. Consumers are best served when the regulators and lenders work together to
erase incidental and unintentional disparity. This would also free lenders to make loans
that don’t discriminate without fear that an unanticipated disparate impact will later be
found and used against them.
IRS final rule on reporting non-resident alien interest
The IRS published final regulations12 in the Federal Register regarding the reporting
requirements for interest that relates to deposits maintained at U.S. offices of certain
financial institutions and is paid to certain nonresident alien individuals. These
regulations will affect commercial banks, savings institutions, credit unions, securities
brokerages, and insurance companies that pay interest on deposits.
Comment: These regulations apply to payments of interest made on or after January 1,
2013. The banking industry unsuccessfully urged the IRS to abandon this ill-conceived
proposal and allow the United States to continue its current policies of (1) encouraging
economic growth by attracting nonresident foreign depositors to place their funds in U.S.
banks, (2) protecting the privacy and safety of nonresident foreign depositors, and (3)
refusing to place the unnecessary burden of reporting interest on these accounts on
community banks.
Volcker Rule Conformance Period Clarified
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The Federal Reserve Board announced13 its approval of a statement clarifying that an
entity covered by section 619 of the Dodd-Frank Wall Street Reform and Consumer
Protection Act, or the so-called Volcker Rule, has the full two-year period provided by
the statute to fully conform its activities and investments, unless the Board extends the
conformance period. Section 619 generally requires banking entities to conform their
activities and investments to the prohibitions and restrictions included in the statute on
proprietary trading activities and on hedge fund and private equity fund activities and
investments. The Board, the OCC, the FDIC, the SEC, and the Commodity Futures
Trading Commission plan to administer their oversight of banking entities under their
respective jurisdictions in accordance with the Board’s conformance rule and this
Statement14.
Comment: In the Statement, the Board confirms that banking entities by statute have two
years from July 21, 2012, to conform all of their activities and investments to section 619,
unless that period is extended by the Board. During the conformance period, banking
entities should engage in good-faith planning efforts, appropriate for their activities and
investments, to enable them to conform their activities and investments to the
requirements of section 619 and final implementing rules by no later than the end of the
conformance period.
FDIC presentations on safe accounts and mobile financial services available
The agenda for April 26, 2012, meeting of the FDIC Advisory Committee on Economic
Inclusion, entitled Moving Forward with Safe Accounts and Mobile Financial
Services15, includes the presentations of the presenters.
Comment: These presentations may be of use to your Compliance Officer and Head
Cashier: Consumer Protections Provided to Debit and Credit Cards Compared to Prepaid
Cards; Model Safe Accounts Pilot Results; Safe Accounts Questions and Answer and Next
Steps; Mobile Financial Services Update.
FFIEC implements New InfoBase Technology for the IT Handbook
The FFIEC has recently upgraded the functions and features of the InfoBase for the
FFIEC Information Technology Examination Handbook (IT Handbook). The IT
Handbook consists of 11 booklets covering a variety of technology and technologyrelated risk management guidance for financial institutions and examiners.
Included in the recent upgrade is a "What's New" function on the InfoBase home page
that may be used to monitor recent changes and, going forward, to access a historical
listing of all changes.
The individual booklets will no longer be available in hard copy. Users will now have the
ability to select the materials they wish to print--from a single page to the entire booklet.
IT Handbook Series is available at http://ithandbook.ffiec.gov/.
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FinCEN extends comment date on customer due diligence obligation
FinCEN is extending the comment period16 for the Advance Notice of Proposed
Rulemaking (ANPRM) it published on February 29, 2012. The ANPRM solicited public
comment on a wide range of questions pertaining to the possible application of an
explicit customer due diligence obligation on financial institutions, including a
requirement for financial institutions to identify beneficial ownership of their
accountholders. The comment period was extended to 30 days after publication in the
Federal Register.
Comment: The U.S. banking system, which is examined regularly as to BSA/AML
program compliance, is working well with regard to risk identification. The proposal, as
applied to commercial banks, is extremely problematic and will have serious, unintended
consequences. Furthermore, the burden should be on businesses and the states to register
beneficial owner information, not on the already overburdened financial institutions
which are currently struggling to comply with the numerous and complex regulations
implementing the Dodd-Frank Act.
FinCEN sends reminder of electronic filing requirement
On May 7, 2012, FinCEN issued a reminder17 about their February 24, 2012
announcement that it is adopting a requirement that all financial institutions subject to
BSA reporting use electronic filing for certain FinCEN reports beginning no later than
July 1, 2012.
Recording of webinar on BSA e-filing for new SAR and CTR available
FinCEN has placed on their web site a recording18 of the updated BSA e-filing technical
specifications for FinCEN’s new SAR and CTR. Downloadable presentation materials19
are also available.
Paul Nash Named OCC Senior Deputy Comptroller and Chief of Staff
Comptroller of the Currency Thomas J. Curry announced that Paul Nash will succeed
John Walsh as Senior Deputy Comptroller and Chief of Staff. Mr. Nash will join the OCC
on May 21st. He has been the Deputy to the Chairman for External Affairs at the Federal
Deposit Insurance Corporation since March 2009. In that role, he oversaw the agency’s
Office of Legislative Affairs, the Office of the Ombudsman, and the Office of Minority
and Women Inclusion. Mr. Nash received a law degree from Georgetown University
Law Center in 1992 and BA degrees from the University of Pennsylvania in International
Relations and History in 1988. He and his wife Michelle live in Fairfax with their four
children.
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Dodd-Frank Act (DFA) agency actions
Note to the Reader: This section is devoted to matters relating directly to the Dodd-
Frank Act. In this section, we will report on both proposed and final rulemaking. We
don’t usually report on proposed rulemaking because readers can confuse the proposals
with final rules; however, an exception will be made with respect to selected rules
proposed in response to the Dodd-Frank Act. Please be aware that rules listed as
proposed have not been adopted by the regulators. We encourage you to comment on
proposals.
Recent DFA final rules adopted:
There are no relevant Dodd-Frank final rules to report this month.
Proposed DFA rules with open comment periods:
CFPB launches DFA required public inquiry into arbitration clauses
The Dodd-Frank Act requires the CFPB to study the use of pre-dispute arbitration
clauses in consumer financial markets and gives the Bureau the power to issue
regulations for the protection of consumers consistent with the study. On April 24,
2012, the CFPB launched a public inquiry into how consumers and financial services
companies are affected by arbitration and arbitration clauses. The CFPB wants to learn
how arbitration clauses affect consumers and how effective arbitration is in resolving
consumers’ issues so it can determine whether rules are necessary to protect consumers.
The Bureau is asking the public about:
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The prevalence of arbitration clauses in consumer financial products and
services;
What claims consumers bring in arbitration against financial services companies;
If claims are brought by financial services companies against consumers in
arbitration;
How consumers and companies are affected by actual arbitrations; and
How consumers and companies are affected by arbitration clauses outside of
actual arbitrations.
Comments on the Request for Information20 must be submitted by June 23, 2012. After
the Bureau completes its study, it will assess whether imposing conditions or
prohibitions on arbitration clauses would better protect consumers and serve the public
interest.
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Comment: Last year, a U.S. Supreme Court decision on class action waiver clauses was
cause for optimism for corporations that are targets of class action lawsuits. Those same
corporations now fear that the CFPB will undo that and pave the way for more class
action lawsuits. It is important that community bankers take time to comment.
Publications, reports, studies, testimony &
speeches
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FinCEN: Increase in mortgage fraud SARs
The FinCEN released its full year 2011 update21 of mortgage loan fraud reported
suspicious activity reports (MLF SARs) that shows financial institutions submitted
92,028 MLF SARs last year, a 31 percent increase over the 70,472 submitted in 2010.
The increase can primarily be attributable to mortgage repurchase demands.
Financial institutions submitted 17,050 MLF SARs in the 2011 fourth quarter, a 9
percent decrease in filings over the same period in 2010 when financial institutions filed
18,759 MLF SARs. While too soon to call a trend, the fourth quarter of 2011 was the first
time since the fourth quarter of 2010 when filings of MLF SARs had fallen from the
previous year. FinCEN also updated its SAR data sets used in the report.
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FedFocus
The May edition of FedFocus22 has articles on mobile payments, enhanced FedLine user
authentication, marketing materials to assist promoting cross-border ACH payments,
direct deposit of federal benefits to protect against severe weather, and free events that
accompany new service options and updates.
Selected upcoming federal compliance dates:
07.01.2012
FinCEN adopted a requirement23 that all financial institutions subject to BSA reporting use
electronic filing for certain reports. Hardship exemptions are available.
07.12.2012
Reg D amendment24 simplifying the administration of reserve requirements. (See April 2012
Capitol Comments)
07.12.2012
Reg J amendment25 (See April 2012 Capitol Comments)
12.31.2012
Housing and Economic Recovery Act by The Helping Heroes Keep Their Homes Act of 2010 – The
provision for an extended time period (extended from 90 days to nine months) for protections
affecting foreclosure, sale, or seizure of servicemembers’ real or personal property expires.
01.01.2013
The IRS final regulations26 regarding the reporting requirements for interest that relates to deposits
maintained at U.S. offices of certain financial institutions and is paid to certain nonresident alien
individuals. These regulations apply to payments of interest made on or after January 1, 2013.
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02.07.2013
This final rule27 amending Reg. E provides new protections, including disclosures and error
resolution and cancellation rights, to consumers who send remittance transfers to other consumers
or businesses in a foreign country. The amendments implement statutory requirements set forth in
Section 1073 of the Dodd-Frank Act.
03.31.2013
SAR/CTR batch filers must update their systems to the new specifications28. (Extended from June
30, 2012 to March 31, 201329) All institutions that batch file the current CTR, CTR-C, SAR-DI, SARSF, SAR-MSB, or SAR-C will have to convert their systems to file the new CTR and SAR. FinCEN
will make other filing technical specifications available in the near future.
Comment: Distribute this calendar to your CEO, CFO, Compliance Officer, and Operations
Officer.
Selected federal compliance dates from the past
12 months:
Our list of past final rule effective dates is limited to 12 months. To see the document
“Selected Past Final Federal Rules,” containing final rules with effective dates more than
12 months old, click here.
04.30.2012
National Labor Relations Board’s final rule30 requiring employers to post workplaces notices
regarding employee rights regarding unions and collective bargaining. Notices will be available at
NLRB regional offices or on the NLRB website31 by October 1. Private sector employers subject to
National Labor Relations Act must post the notice. The notice was originally required on 11.14.2011,
but was delayed to allow for further education and outreach.
03.15.2012
ATMs must comply with the communication requirements of the ADA and ABA Accessibility
Guidelines for Buildings and Facilities32.
01.01.2012
The FFIEC member agencies directed examiners to formally assess financial institutions under the
enhanced expectations outlined in the supplemental guidance on Internet banking authentication33
beginning in January 2012.
12.31.2011
Treasury ends over-the-counter sales of paper savings bonds, including sales through financial
institutions and applications directly to the Fed.
10.01.2011
Final rule34 establishing standards (Regulation II) for debit card interchange fees and prohibiting
network exclusivity arrangements and routing restrictions.
10.01.2011
Interim final rule35 that allows for an upward adjustment of no more than 1 cent to an issuer's debit
card interchange fee if the issuer develops and implements policies and procedures reasonably
designed to achieve the fraud-prevention standards.
10.01.2011
Clarification of Reg Z36 Credit Card Act and official staff commentary.
08.15.2011
The Board amended model notices37 in Regulation B to include the disclosure of credit scores and
related information if a credit score is used in taking adverse action.
08.15.2011
The final rules38 amending Regulation V generally require a creditor to provide a risk-based pricing
notice to a consumer when the creditor uses a consumer report to grant or extend credit to the
consumer on material terms that are materially less favorable than the most favorable terms
available to a substantial proportion of consumers from or through that creditor
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07.21.2011
The FDIC final rule39 repeals Reg. Q, the prohibition against the payment of interest on demand
deposit accounts.
07.21.2011
This is the transfer date when the CFPB will be vested with the consumer protection authorities
currently held by the existing federal financial regulators, such as the Federal Reserve and the
FDIC.
07.21.2011
The final rules amend Reg. Z40 and Reg. M41 (Consumer Leasing) to implement a provision of the
Dodd-Frank Act, which requires Truth in Lending Act and the Consumer Leasing Act apply to
consumer credit transactions and consumer leases up to $50,000, compared with $25,000
currently. This amount will be adjusted annually to reflect any increase in the consumer price
index.
07.22.2011
Effective date of the repeal of Reg. Q’s prohibition on payment of interest on commercial checking
accounts. A rule has been proposed42 to implement this.
07.01.2011
FDIC Overdraft Payment Supervisory Guidance.43 The FDIC expects that any additional efforts to
mitigate risk would be in place by July 1, 2011.
05.01.2011
Interim final rule44 to implement statutory restrictions on the garnishment of Federal benefit
payments and establish procedures that financial institutions must follow when they receive a
garnishment order against an account holder who receives certain types of Federal benefit
payments by direct deposit.
04.01.2011
Final rule45 amending Reg. Z increases from 1.5 to 2.5 percentage points the APR threshold for
determining whether a jumbo mortgage secured by a first lien on a consumer’s principal dwelling is
a HPML for which an escrow account must be established.
04.01.2011
Reg. Z46 – Amendment to protect consumers in the mortgage market from unfair or abusive
lending practices that can arise from certain loan originator compensation practices.
04.01.2011
Fed’s final rule47 to implement the conformance period during which banking entities and nonbank
financial companies supervised by the Board must bring their activities and investments into
compliance with the prohibitions and restrictions on proprietary trading and relationships with
hedge funds and private equity funds imposed by the ‘‘Volcker Rule.
04.01.2011
FDIC final rule48 on Assessments, Dividends, Assessment Base, and Large Bank Pricing. This new
large bank pricing system will result in higher assessment rates for banks with high-risk
concentrations, less stable balance sheet liquidity, or potentially higher loss severity in the event of
failure. Except as specifically provided, the final rule will take effect for the quarter beginning April
1, 2011, and will be reflected in the June 30, 2011 fund balance and the invoices for assessments due
September 30, 2011.
03.28.2011
FinCEN final rule49 to amend BSA regulations regarding reports of foreign financial accounts.
03.15.2011
Nondiscrimination on the Basis of Disability Final Rules50 – Effective dates of new ADA
requirements for ATMs.51
How to submit comments to your federal
regulators:
Office of the Comptroller of the Currency: Because paper mail in the Washington, DC area and at the OCC is
subject to delay, commenters are encouraged to submit comments by the Federal eRulemaking Portal or e-mail, if
possible. Please use the title in the Federal Register publication of the proposal. You may submit comments by any of
the following methods:

Federal eRulemaking Portal—Regulations.gov: Go to

http://www.regulations.gov . Select “Document Type” of “Proposed Rule”, and in “Enter Keyword or ID Box”,
enter the docket number found in the Federal Register publication of the proposed rule and click “Search.” On “View
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By Relevance” tab at bottom of screen, in the “Agency” column, locate the proposed rule for OCC, in the “Action”
column, click on “Submit a Comment” or “Open Docket Folder” to submit or view public comments and to view
supporting and related materials for this proposed rule.

Click on the “Help” tab on the Regulations.gov home page to get information on using Regulations.gov, including
instructions for submitting or viewing public comments, viewing other supporting and related materials, and viewing
the docket after the close of the comment period.

E-mail: regs.comments@occ.treas.gov
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Mail: Office of the Comptroller of the Currency, 250 E Street, SW., Mail Stop 2-3, Washington, DC 20219.

Fax: (202) 874-5274.
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Hand Delivery/Courier: 250 E Street, SW., Mail Stop 2-3, Washington, DC 20219.
Instructions: You must include “OCC” as the agency name and the docket number in your comment. In general, OCC
will enter all comments received into the docket and publish them on the Regulations.gov Web site without change,
including any business or personal information that you provide such as name and address information, e-mail
addresses, or phone numbers. Comments received, including attachments and other supporting materials, are part of
the public record and subject to public disclosure.
Do not enclose any information in your comment or supporting materials that you consider confidential or
inappropriate for public disclosure.
Board of Governors of the Federal Reserve System: You may submit comments, identified by the docket
number and the RIN number found in the Federal Register publication of the rule proposal, by any of the following
methods:

Agency Web Site: http://www.federalreserve.gov. Follow the instructions for submitting comments at
http://www.federalreserve.gov/generalinfo/foia/ProposedRegs.cfm.

Federal eRulemaking Portal: http://www.regulations.gov. Follow the instructions for submitting comments.

E-mail: regs.comments@federalreserve.gov. Include the docket number and RIN number in the subject line of
the message.

Fax: (202) 452-3819 or (202) 452-3102.

Mail: Address to Jennifer J. Johnson, Secretary, Board of Governors of the Federal Reserve System, 20th Street
and Constitution Avenue, NW., Washington, DC 20551.
Federal Deposit Insurance Corporation: You may submit comments, identified by RIN number, by any of the
following methods:

Agency Web Site: http://www.FDIC.gov/regulations/laws/federal/propose.html. Follow instructions for
submitting comments on the Agency Web Site.

E-mail: Comments@FDIC.gov. Include the RIN number on the subject line of the message.

Mail: Robert E. Feldman, Executive Secretary, Attention: Comments, Federal Deposit Insurance Corporation,
550 17th Street, NW, Washington, DC 20429.

Hand Delivery: Comments may be hand delivered to the guard station at the rear of the 550 17th Street Building
(located on F Street) on business days between 7:00 a.m. and 5:00 p.m.
Instructions: All comments received must include the agency name and RIN for this rulemaking and will be posted
without change to
http://www.fdic.gov/regulations/laws/ federal/propose.html, including any personal information provided.
Consumer Financial Protection Bureau: You may submit comments, identified by docket number, by any of the
following methods:


Electronic: http://www.regulations.gov. Follow the instructions for submitting comments.
Mail: Monica Jackson, Office of the Executive Secretary, Consumer Financial Protection Bureau, 1500
Pennsylvania Ave. NW., (Attn: 1801 L Street), Washington, DC 20220.
 Hand Delivery/Courier in Lieu of Mail: Monica Jackson, Office of the Executive Secretary, Consumer
Financial Protection Bureau, 1700 G Street NW., Washington, DC 20006.
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Instructions: The CFPB encourages the early submission of comments. All submissions must include the
document title and docket number. Please note the number of the question to which you are responding at the
top of each response (respondents need not answer each question). In general, all comments received will be
posted without change to http://www.regulations.gov. In addition, comments will be available for public
inspection and copying at 1700 G Street NW., Washington, DC 20006, on official business days between the
hours of 10 a.m. and 5 p.m. Eastern Time. You can make an appointment to inspect the documents by
telephoning (202) 435-7275. All comments, including attachments and other supporting materials, will become
part of the public record and subject to public disclosure. Sensitive personal information such as account
numbers or Social Security numbers should not be included. Comments will not be edited to remove any
identifying or contact information.
This publication is designed to provide accurate and authoritative information in regard to the subject matter covered. It is
provided with the understanding that the publisher is not engaged in the rendering of legal, accounting or other professional
advice - from a Declaration of Principles adopted by the American Bar Association and a Committee of Publishers and
Associations; All rights reserved; Shannon Phillips Jr., Editor; Oklahoma Edition, copyrighted by Craig Buford, CBAO
President and CEO.
Capitol Comments
May 2012
Craig Buford, CAE
President and CEO
Community Bankers Association of Oklahoma
4101 Perimeter Center Drive, Suite 107
Oklahoma City, OK 73112
Office: 405-524-4122
Cell: 405-833-9499
Fax: 405-524-0443
cbuford@cba-ok.org
www.cba-ok.org
1
http://www.federalreserve.gov/newsevents/press/bcreg/20120501a.htm
2
https://www.federalregister.gov/articles/2012/02/28/2012-4576/impacts-of-overdraft-programs-on-consumers
3
https://www.federalregister.gov/articles/2012/04/25/2012-9851/impact-of-overdraft-programs-on-consumers
4
http://www.fdic.gov/consumers/consumer/moneysmart/index.html
5
http://www.fdic.gov/news/news/financial/2012/fil12020.pdf
6
http://files.consumerfinance.gov/f/201204_cfpb_LoanOriginatorCompensationBulletin.pdf
7
http://ecfr.gpoaccess.gov/cgi/t/text/textidx?c=ecfr;sid=09558a8309d73086b9217fe5af1ce0ef;rgn=div5;view=text;node=12%3A8.0.2.14.18;idno=12;cc=ecf
r#12:8.0.2.14.18.5.1.6
8
http://www.consumerfinance.gov/pressreleases/consumer-financial-protection-bureau-to-pursue-discriminatorylenders/
9
http://files.consumerfinance.gov/f/201204_cfpb_Credit_Discrimination_Brochure.pdf
10
http://files.consumerfinance.gov/f/201404_cfpb_bulletin_lending_discrimination.pdf
11
http://www.occ.treas.gov/news-issuances/federal-register/94fr9214.pdf
12
http://www.gpo.gov/fdsys/pkg/FR-2012-04-19/pdf/2012-9520.pdf
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13
http://www.federalreserve.gov/newsevents/press/bcreg/20120419a.htm
14
http://www.federalreserve.gov/newsevents/press/bcreg/bcreg20120419a1.pdf
15
http://www.fdic.gov/about/comein/2012/2012-04-26_agenda.html
16
http://www.fincen.gov/statutes_regs/frn/pdf/CDD_ANPRM_Extension_of_Comment_Period.pdf
17
http://www.fincen.gov/whatsnew/pdf/20120507.pdf
18
http://treas.yorkcast.com/webcast/Viewer/?peid=97066743d5da4235936672d658cddd991d
19
http://fincen.gov/whatsnew/pdf/20120508.pdf
20
http://files.consumerfinance.gov/f/201204_cfpb_rfi_predispute-arbitration-agreements.pdf
21
http://www.fincen.gov/news_room/nr/pdf/20120423.pdf
22
http://www.frbservices.org/fedfocus/index.html
23
http://www.gpo.gov/fdsys/pkg/FR-2012-02-29/html/2012-4756.htm
24
http://www.gpo.gov/fdsys/pkg/FR-2012-04-12/html/2012-8562.htm
25
http://www.gpo.gov/fdsys/pkg/FR-2012-04-12/html/2012-8563.htm
26
http://www.gpo.gov/fdsys/pkg/FR-2012-04-19/pdf/2012-9520.pdf
27
http://www.gpo.gov/fdsys/search/pagedetails.action?granuleId=2012-1728&packageId=FR-2012-0207&acCode=FR
28
29
http://www.fincen.gov/news_room/nr/html/20110902.html
http://www.fincen.gov/whatsnew/pdf/20111220.pdf
30
http://www.federalregister.gov/articles/2011/08/30/2011-21724/notification-of-employee-rights-under-thenational-labor-relations-act
31
http://www.nlrb.gov/
32
http://www.access-board.gov/ada-aba/final.cfm#communication
33
http://www.ffiec.gov/pdf/Auth-ITS-Final%206-22-11%20%28FFIEC%20Formated%29.pdf
34
http://www.federalreserve.gov/newsevents/press/bcreg/bcreg20110629b1.pdf
35
http://www.federalreserve.gov/newsevents/press/bcreg/bcreg20110629a1.pdf
36
http://edocket.access.gpo.gov/2011/pdf/2011-8843.pdf
37
http://www.gpo.gov/fdsys/pkg/FR-2011-07-15/pdf/2011-17585.pdf
38
http://www.gpo.gov/fdsys/pkg/FR-2011-07-15/pdf/2011-17649.pdf
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39
http://www.gpo.gov/fdsys/pkg/FR-2011-07-14/pdf/2011-17686.pdf
40
http://edocket.access.gpo.gov/2011/pdf/2011-7376.pdf
41
42
43
http://edocket.access.gpo.gov/2011/pdf/2011-7377.pdf
http://www.gpo.gov/fdsys/pkg/FR-2011-04-14/html/2011-9002.htm
http://www.fdic.gov/news/news/financial/2010/fil10081.html
44
http://www.federalregister.gov/articles/2011/02/23/2011-3782/garnishment-of-accounts-containing-federalbenefit-payments
45
http://edocket.access.gpo.gov/2011/pdf/2011-4384.pdf
46
http://www.federalreserve.gov/newsevents/press/bcreg/bcreg20100816d1.pdf
47
http://edocket.access.gpo.gov/2011/pdf/2011-3199.pdf
48
http://ibat.informz.net/z/cjUucD9taT0xMjc2ODAxJnA9MSZ1PTAmbGk9NTM4NjEyNg/index.html
49
http://www.gpo.gov/fdsys/pkg/FR-2011-02-24/pdf/2011-4048.pdf
50
http://edocket.access.gpo.gov/2010/pdf/2010-21821.pdf
51
http://www.access-board.gov/ada-aba/final.cfm#a707
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