[Federal Register Volume 61, Number 51 (Thursday, March 14, 1996)]
[Notices]
[Page 10582]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-6077]



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FEDERAL RESERVE SYSTEM

Consumer Advisory Council; Notice of Meeting of Consumer Advisory 
Council

    The Consumer Advisory Council will meet on Thursday, March 28. The 
meeting, which will be open to public observation, will take place in 
Terrace Room E of the Martin Building. The meeting is expected to begin 
at 9:00 a.m. and to continue until 4:00 p.m., with a lunch break from 
1:00 p.m. until 2:00 p.m. The Martin Building is located on C Street, 
Northwest, between 20th and 21st Streets in Washington, D.C.
    The Council's function is to advise the Board on the exercise of 
the Board's responsibilities under the Consumer Credit Protection Act 
and on other matters on which the Board seeks its advice. Time 
permitting, the Council will discuss the following topics:
    Consumer Leasing. Discussion led by the Consumer Credit Committee 
on the proposed revision of lease disclosures under the Board's 
Regulation M (Consumer Leasing), focusing on the disclosure of a lease 
rate, a total lease charge, and an example of an early-termination 
charge, and choice of format for presenting disclosures to consumers.
    Finance Charge Report. Discussion led by the Consumer Credit 
Committee on an upcoming Board report to Congress on how the finance 
charge disclosure under the Board's Regulation Z (Truth in Lending) 
could more accurately reflect the cost of consumer credit, including 
the feasibility of treating as finance charges all costs imposed by the 
creditor and payable by the consumer that are incident to an extension 
of credit.
    Community Reinvestment Act Reform. Discussion led by the Bank 
Regulation Committee on implementation of the revised CRA regulations 
with a focus on emerging issues, including those among banks and thrift 
institutions that are subject to new data collection and reporting 
requirements.
    Community Development Lending. Discussion led by the Community 
Affairs and Housing Committee on creating public-private partnerships 
to provide opportunities for community development and profitable 
lending.
    Regulatory Coverage for Stored-Value Cards. Discussion led by the 
Depository and Delivery Systems Committee on an upcoming Board proposal 
to amend Regulation E (Electronic Fund Transfers) to address the 
treatment of ``stored value'' cards (including smart cards, prepaid 
cards, electronic purses, and similar products) and the use of 
electronic communications in home-banking programs.
    Governor's Report. Report by Federal Reserve Board Member Lawrence 
B. Lindsey on economic conditions, recent Board initiatives, and issues 
of concern, with an opportunity for questions from Council members.
    Members Forum. Presentation of individual Council members' views on 
the economic conditions present within their industries or local 
economies.
    Committee Reports. Reports from Council committees on their work 
and plans for 1995.
    Other matters previously considered by the Council or initiated by 
Council members also may be discussed.
    Persons wishing to submit to the Council their views regarding any 
of the above topics may do so by sending written statements to Deanna 
Aday-Keller, Secretary, Consumer Advisory Council, Division of Consumer 
and Community Affairs, Board of Governors of the Federal Reserve 
System, Washington, D.C. 20551.
    Information with regard to this meeting may be obtained from Ms. 
Aday-Keller, 202-452-6470. Telecommunications Device for the Deaf (TDD) 
users may contact Dorothea Thompson, 202-452-3544.
    Board of Governors of the Federal Reserve System, March 8, 1996.
Jennifer J. Johnson
Deputy Secretary of the Board
[FR Doc. 96-6077 Filed 3-13-96; 8:45 am]
BILLING CODE 6210-01-F