[Federal Register Volume 63, Number 41 (Tuesday, March 3, 1998)]
[Notices]
[Pages 10384-10385]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-5382]


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FEDERAL RESERVE SYSTEM


Notice of Meeting of Consumer Advisory Council

    The Consumer Advisory Council will meet on Thursday, March 19. The 
meeting, which will be open to public observation, will take place at 
the Federal Reserve Board's offices in Washington, D.C. For this 
meeting, the location has been changed to the Board Room of the Eccles 
Building. The meeting will begin at 9:00 a.m. and is expected to 
continue until 4:00 p.m., with a lunch break approximately between 1:00 
p.m. and 2:00 p.m. The Eccles 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.
    Recommendations to Simplify Mortgage Lending Disclosures. The 
Consumer Credit Committee will lead a discussion of issues related to 
legislative recommendations being developed to simplify, consolidate, 
and streamline the provisions of the Board's Regulation Z (Truth in 
Lending) and HUD's Regulation X (Real Estate Settlement Procedures) 
affecting home mortgage lending. In particular, attention will focus on 
the feasibility of providing consumers with firm costs for shopping 
purposes, and the possibility/desirability of adding new consumer 
protections against abusive lending and foreclosure practices.
    Bank Regulatory Issues. The Bank Regulation Committee will lead a 
discussion regarding the ongoing implementation of the revised 
Community Reinvestment Act regulations; in particular, attention will 
focus on interagency efforts to enhance uniformity in CRA examinations 
conducted by the four banking agencies.
    Electronic Communication. The Depository and Delivery Systems 
Committee will lead a discussion regarding an upcoming Board proposal 
to permit electronic notices, disclosures, and documentation to 
substitute for paper communications under Board regulations that 
implement the Electronic Fund Transfer Act, Truth in Lending Act, the 
Consumer Leasing Act, the Truth in Savings Act, and the Equal Credit 
Opportunity Act.
    Issues Related to the Year 2000. The Council will discuss issues 
related to encouraging public awareness of preventive measures being 
taken by financial institutions and other entities to prepare for the 
century date change, and of error resolution and other rights that 
consumers will have in the event problems occur.
    Governor's Report. Reserve Board Member Laurence H. Meyer will 
report on economic conditions, recent Board initiatives, and issues of 
concern, with an opportunity for questions from Council members.
    Members Forum. Individual Council members' will present views on 
the economic conditions present within their industries or local 
economies.
    Committee Reports. Council committees will report on their work 
plans for 1998.
    Other matters previously considered by the Council or initiated by 
Council members also may be discussed.
    Persons wishing to submit views to the Council 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 about this meeting may be obtained 
from Ms. Aday-Keller, 202-452-6470. Telecommunications Device for the 
Deaf

[[Page 10385]]

(TDD) users may contact Diane Jenkins, 202-452-3544.
    Board of Governors of the Federal Reserve System, February 25, 
1998.
William W. Wiles
Secretary of the Board
[FR Doc. 98-5382 Filed 3-2-98; 8:45 am]
BILLING CODE 6210-01-F