Fair Housing Rule, Consumer Protection Rule in the Sale of Insurance; Technical correction – InsuranceNewsNet

Technical fix.

CFR Part: “12 CFR Parts 338 and 343”

RIN number: “RIN 3064-AF84”

Reference: “87 FR 48079”

Page number: “48079”

“Rules and Regulations”

Agency: “Federal Deposit Insurance Corporation.”

SUMMARY: The Federal Deposit Insurance Corporation (FDIC) is making technical corrections to two regulations to reflect a reorganization and renaming of its former Consumer Response Center. The new name is National Consumer and Depositor Assistance Center (NCDA). The two regulations are FDIC Fair Housing Rule and its Consumer Protection Rule in Insurance Sales.

APPOINTMENT:

Efficient August 8, 2022.

FOR MORE INFORMATION, CONTACT: Alys V. Brownattorney, legal division, 202-898-3565, [email protected]; Thaddeus J. Kingpolicy analyst, Depositor and Consumer Protection Division202-898-3541, [email protected].

ADDITIONAL INFORMATION:

Background The final regulations subject to this technical correction are the Fair Housing Rule and the Consumer Protection in the Sale of Insurance Rule. The fair housing rule prohibits FDIC-prevented controlled institutions from engaging in discriminatory advertising involving transactions related to residential real estate. The Consumer Protection in the Sale of Insurance Rule prohibits certain actions relating to retail practices, solicitations, advertising or offers of insurance products.

Necessity and effects of the technical correction

Historically, the FDIC operated two separate offices to manage its consumer assistance and depositor assistance functions, the Consumer Response Center and the Deposit Insurance Section, respectively. In order to improve the efficiency and effectiveness of these offices and to better serve consumers and depositors, the FDIC merged the two offices into a single organization, titled National Consumer and Depositor Assistance Center.

In order to ensure that consumers have the most up-to-date information on how to contact the FDIC submit consumer complaints and deposit insurance claims, the FDIC makes technical corrections to 12 CFR part 338 and 12 CFR part 343 to replace references to “Consumer Response Center” with “National Consumer and Depositor Assistance Center,” and to correct web addresses.

This technical correction may benefit certain consumers by allowing them to more easily contact the FDIC regarding complaints or questions regarding deposit insurance. The correction does not change anything FDIC requirements affecting its supervised establishments.

List of topics

12 CFR Part 338

Seniors, banks, banking, civil rights, credit, fair housing, people with disabilities, marital status discrimination, mortgages, religious discrimination, reporting and record keeping requirements, savings associations, discrimination sex, signs and symbols.

12 CFR Part 343

Banks, banking services, consumer protection, insurance, savings associations.

Authority and issuance For the reasons stated in the preamble, the FDIC amends parts 338 and 343 of 12 CFR as follows:

PART 338 – FAIR HOUSING

1. The authority citation for Part 338 continues to read as follows:

Authority: 12 USC 1817, 1818, 1819, 1820(b), 2801 and seq.; 15 USC 1691 et seq.; 42 USC 3605, 3608; 12 CFR parts 1002, 1003; 24 CFR part 110.

2. Edit SECOND 338.4 by revising paragraph (b) as follows:

SECOND 338.4 Poster on fair housing.

*****

(b) The Equal Housing Lender poster must measure at least 11 inches by 14 inches and contain the following text:

We do business in accordance with federal laws Fair Lending Laws.

UNDER THE FEDERAL FAIR HOUSING ACT IT IS ILLEGAL, ON THE BASIS OF RACE, COLOR, NATIONAL ORIGIN, RELIGION, GENDER, DISABILITY OR FAMILY STATUS (HAVING CHILDREN OF UNDER 18):

* Refuse a loan for the purpose of buying, building, improving, repairing or maintaining a dwelling or refusing any loan secured by a dwelling; Where

* Discriminate in setting the amount, interest rate, term, application procedures or other terms or conditions of any such loan or in valuing the property.

IF YOU BELIEVE YOU HAVE BEEN DISCRIMINATED, YOU SHOULD SEND A COMPLAINT TO:

Assistant Secretary for Fair housing and equal opportunities, Department of Housing and Urban Development, washington d.c. 20410.

For processing under the Federal Fair Housing Act

AND TO:

Federal Deposit Insurance Corporation, National Center for Consumption and Filing Assistance, https://ask.fdic.gov/fdicinformationandsupportcenter.

For processing under FDIC regulations.

UNDER THE EQUAL CREDIT OPPORTUNITY ACT IT IS ILLEGAL TO DISCRIMINATE IN ANY CREDIT TRANSFER:

* Based on race, color, national origin, religion, gender, marital status, or age;

* Because the income comes from public assistance; Where

* Because a right has been exercised under the Consumer Credit Protection Act.

IF YOU BELIEVE YOU HAVE BEEN DISCRIMINATED, YOU SHOULD SEND A COMPLAINT TO:

Federal Deposit Insurance Corporation, National Center for Consumption and Filing Assistance, https://ask.fdic.gov/fdicinformationandsupportcenter.

*****

PART 343 – CONSUMER PROTECTION IN THE SALE OF INSURANCE

3. The authority citation for Part 343 continues to read as follows:

Authority: 12 USC 1819 (seventh and tenth), 1831x.

4. Revise Appendix A to Part 343 to read as follows:

Appendix A to Part 343 – Consumer Complaints Process Any consumer who believes that an institution or other person selling, soliciting, advertising or offering insurance products or annuities to the consumer in an office of the institution or on behalf of the institution has violated the requirements of this part should contact the Depositor and Consumer Protection Division, National Center for Consumption and Filing Assistance, Federal Deposit Insurance Corporation, 1100 Walnut StreetBox #11, Kansas City, Missouri 64106, or call 1-877-275-3342, or FDIC Electronic Customer Assistance Form at https://ask.fdic.gov/fdicinformationandsupportcenter.

Federal Deposit Insurance Corporation.

Dated at washington d.c.on August 3, 2022.

James P.Sheesley,

Deputy Executive Secretary.

[FR Doc. 2022-16961 Filed 8-5-22; 8:45 am]

BILLING CODE 6714-01-P

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