§4308 Regulations

Summary

The Bureau must write rules to put this chapter into effect by the end of the 9-month period that began on December 19, 1991. It must consult the agencies named in section 4309(a) and give public notice and a chance to comment. The rules must take effect no later than 9 months after they are published in final form. The Bureau may treat different kinds of accounts differently and make adjustments or exceptions when needed to carry out the chapter, stop people from avoiding the rules, or make it easier to follow them. The chapter does not apply to any depository institution until the Bureau’s rules take effect (or until the National Credit Union Administration issues rules for the specific institutions mentioned elsewhere). The Bureau must also publish sample disclosure forms and wording for common notices and should consider how banks use computers or machines when making them. Depository institutions do not have to use the samples. A bank that uses a Bureau sample form is treated as following the disclosure rules. A bank is also treated as compliant if it uses a sample form but removes information not required by the chapter or changes the layout. The samples must be adopted after notice and opportunity for public comment in the Federal Register under section 553 of title 5.