Subject: Interim Rules for Electronic Delivery of Federally Mandated Disclosures


The Federal Reserve Board has published interim final rules to establish uniform standards for the electronic delivery of federally mandated disclosures 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).

Under the rules, financial institutions, creditors, lessors, and others may deliver disclosures electronically if they obtain consumers' consent in accordance with the requirements of the Electronic Signatures in Global and National Commerce Act (the "E-Sign Act"), enacted in June 2000. The Board's interim rules provide guidance on the timing and delivery of electronic disclosures, consistent with proposed rules issued by the Board in August 1999, to ensure that consumers have adequate opportunity to access and retain the information.

The rules are being published as interim rules to allow commenters to present new information or views not previously considered in the context of the Board's 1999 proposals. Comment is also solicited on any further statutory or regulatory changes that might be needed to facilitate online delivery of financial services to consumers.

Comment Requested: These interim rules are effective March 31, 2001; however, to allow time for any necessary operational changes, the mandatory compliance date is October 1, 2001. Comments should refer to Docket Nos. R-1040 to R-1044 and be received on or before June 1, 2001 by Ms. Jennifer J. Johnson, Secretary, Board of Governors of the Federal Reserve System, 20th Street and Constitution Avenue, NW, Washington, DC 20551 or mailed electronically to:

Additional Information: A copy of each of the five interim final rules can be obtained ont the Board's web site at: For additional information, please contact this Reserve Bank's Regulations Assistance Unit at (215) 574-6568.