Circular
Electronic Disclosures
Reopening of Comment Period on Allowing Electronic Delivery of Federally Mandated Disclosures
December 16, 1999
Circular No. 11220

To All Depository Institutions and Others Concerned in the Second Federal Reserve District:

The following is from a statement by the Board of Governors of the Federal Reserve System:

The Federal Reserve Board has announced the reopening and extension of the comment period on proposals to allow electronic delivery of federally mandated disclosures. On September 14, 1999, the Board published revised proposals for public comment under five consumer protection regulations: B (Equal Credit Opportunity), E (Electronic Fund Transfers), M (Consumer Leasing), Z (Truth in Lending), and DD (Truth in Savings). [See Circular No. 11184.]

The Board is reopening and extending the comment period in order to obtain views from individual consumers through focus group interviews. Although the comment period is being extended primarily for the purpose of conducting these focus groups, other members of the public may also submit comments during this period but they are encouraged to submit them as soon as possible.

Final action on the proposals is expected in March, shortly after the close of the public comment period.

Comments are requested by March 3, 2000.

The Board's official notice (pdf - 118kb), as published in the Federal Register of December 15 is available as a PDF file. Comments should be submitted to the Board, as specified in the notice, by March 3.