Chapter X; The Fed and Dodd-Frank
Posted by Anthony Demangone
With all of the noise surrounding Regulation Z and the CFPB, I sometimes forget that FinCEN has completely reorganized its regulations. Â On March 1, 2011, all of its regulations will transfer to 31 C.F.R. Chapter X. Â These changes are organizational, with no substantive changes. Â But on March 1, 2011, you can throw out all of your old BSA citations! Â FinCEN has created a Chapter X resource webpage. Â Â If you are your credit union's BSA officer, this is a must-see webpage. There are more resources to explain the transfer process than you can shake a stick at.
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The Fed created this webpage to document its efforts in implementing Dodd-Frank. Â If you are tracking Dodd-Frank issues for your credit union, this is a nice resource. Â The resource pages notes that the Fed plans on releasing its debit card interchange proposal in the November-December 2010 time-frame.Â