Effective Date Postponed from April 1 to October 1, 2001
To All State Member Banks in the Second Federal Reserve District:
In a March 14 press release, the federal banking regulatory agencies extended the effective date of the final consumer protection rules for the sale of insurance products by depository institutions from April 1, 2001, to October 1, 2001.
The final rules were announced in our Circular No. 11295, dated December 18, 2000. No other provisions of the rules have changed.
The official notice of the date change is contained in the March 19 edition of the Federal Register. Questions may be directed, at this Bank, to Janice A. Oser, Bank Supervision Officer, Legal and Compliance Risk Department.