OCC 98-49
Subject: Regulations E, M, and DD
Description Rules
Date: October 15, 1998 

TO:  Chief Executive Officers and Compliance Officers of all
     National Banks, Department and Division Heads, and all
     Examining Personnel


On September 29, 1998, the Board of Governors of the Federal
Reserve System (the Board) published final rules amending
Regulation E, which implements the Electronic Fund Transfer Act
(EFTA);  Regulation M, which implements the Consumer Leasing
Act; and Regulation DD, which implements the Truth in Savings
Act (TISA).  The final rules amend:

-    Regulation DD by modifying the rules for indoor lobby
     signs, eliminating subsequent disclosure requirements for
     some automatically renewable time accounts, and repealing 
     the civil liability provisions as of September 30, 2001. 
     The rule became effective September 24, 1998. 

-    Regulation M by adopting several technical amendments to
     the regulation and commentary concerning lease payments,
     advertisements, and the treatment of taxes.  Compliance is
     optional until October 1, 1999.

-    Regulation E by revising the time periods for providing
     provisional credit involving point-of-sale and foreign-initiated
	 transactions.  The final rule requires financial
     institutions to provisionally credit an account within 10
     business days (rather than 20) and leaves in place the 90
     calendar day period to complete the investigation of an
     alleged error.  The final rule also extends the time
     periods to provisionally credit funds and investigate
     claims involving new accounts.  The rule applies to claims
     made within 30 calendar days after an account is opened. 
     The rule allows 20 business days for resolving an alleged
     error and up to 90 calendar days for completing the
     investigation.  Compliance is optional until April 1,
     1999.







For more information, contact your supervisory office or
Community and Consumer Policy at (202) 874-4428.




                                                  
Stephen M. Cross
Deputy Comptroller
Community and Consumer Policy


Attachment -63 FR 52106