Regulation B Update

Regulation B Policy Template Update - 01/24/05

Bankpolicies.com is proud to announce the immediate availability of our revised Regulation B Policy Template.

What's New

We received numerous requests to create a Fair and Accurate Credit Transaction Act (FACTA) policy template product (which subsequently amends the Fair Credit Reporting Act - FCRA). Since federal regulators have not released final rules for all the provisions that affect financial institutions, we were hesitant to release a "partial" product to our client base. To meet this demand, we amended our Regulation B Policy Template by revising Topic 14 (Fair Credit Report Act). This revision includes the following "final rule" sub-topics within that section:

General

Credit Score Disclosure Procedures

Identity Theft Procedures (taken from our Regulation P Policy Template product)

Repollution Procedures

Fraud and Active Duty Alert Procedures

Notice of Negative Information Procedures

Adverse Action Procedures

We will notify our client base of subsequent upgrades as other final rule provisions are released by federal regulators.

As a side note, we also received numerous requests for guidelines for the "Disposal of Consumer Information" final rule. We believe this topic was sufficiently addressed some time ago throughout our Regulation P Policy Template product, specifically under Topic 15 (Safeguarding Customer Information Policy). We suggest using the term "consumer and customer" when describing the proper disposal of "consumer information."

Product Contents

Purpose and Contents - Topic 1

Policy Statement - Topic 2

Risk Management of Unfair or Deceptive Acts or Practices - Topic 3

Regulation B Background/Requirements - Topic 4

Definitions - Topic 5

Limited Exceptions for Certain Classes of Transactions - Topic 6

Rules Concerning Deposit Transactions - Topic 7

Rules Concerning Taking of Applications - Topic 8

Rules Concerning Evaluation of Applications - Topic 9

Rules Concerning Extensions of Credit - Topic 10

Notifications - Topic 11

Furnishing of Credit Information - Topic 12

Special Purpose Credit Programs - Topic 13

Fair Credit Reporting Act (FCRA) - Topic 14

Information for Monitoring Purposes - Topic 15

Rules on Providing Appraisal Reports - Topic 16

Enforcement, Penalties and Liabilities - Topic 17

Rules for Self-Testing and Self-Correction - Topic 18

Requirements for Electronic Communication - Topic 19

Relation to State Law - Topic 20

Staff Training - Topic 21

Retention of Documents - Topic 22

Includes the following form templates:

Application Conversation Log (2 pages)

Credit Score Information Disclosure Form (1 page)

Identity Theft Affidavit Packet (7 pages)

Ordering Information

This revised product is available to purchase from Bankpolicies.com for:

$275.00 - List Price

- or -

$25.00 - Update Price (applies only to clients who have previously purchased our Regulation B Policy Template product)

If you have ordered this product within the past 30 days since 01/25/05 you are eligible to receive the Product Update at no charge.

Click here to place an order for this product. Clients who are eligible for our Legacy Rewards Volume Discount can apply their applicable discount level to the upgrade or list price (whichever applies).

NOTE: Refer to our Place an Order page for important information regarding payment terms and our return policy. Orders placed for Product Updates are only available directly through Bankpolicies.com.