Fair Housing Rule, Consumer Protection in Sales of Insurance Rule; Technical Correction – InsuranceNewsNet

Technical correction.

CFR Part: “12 CFR Parts 338 and 343”

RIN number: “RIN 3064-AF84”

Quote: “87 FR 48079”

Page number: “48079”

“Rules and Regulations”

Agency: “Federal Deposit Insurance Company.”

SUMMARY: The Federal Deposit Insurance Company (FDIC) is making technical corrections to two regulations to reflect a restructuring and name change of its former Consumer Response Center. The new name is the National Center for Consumer and Depositor Assistance (NCDA). The two regulations are the FDIC’s Fair Housing Rule and its Consumer Protection in Selling Insurance.

EVENTS:

Effective August 8, 2022.

FOR MORE INFORMATION CONTACT: Alys V. BrownAttorney, Legal Department, 202-898-3565, [email protected]; Thaddeus J. Kingpolicy analyst, Depositor and Consumer Protection Department202-898-3541, [email protected].

SUPPLEMENTARY INFORMATION:

Background The final regulations that are the subject of this technical correction are the Fair Housing Rule and the Consumer Protection in Sales of Insurance Rule. The Fair Housing Rule forbids it FDIC-Prohibit supervised institutions from engaging in discriminatory advertising in relation to residential real estate transactions. The Consumer Protection Regulations in the Sale of Insurance Products prohibit certain acts in connection with retail sales practices, solicitation, advertising or offering of insurance products.

Necessity and Effects of the Technical Correction

Historically, the FDIC operated two separate offices to handle its consumer and depositor support functions, the Consumer Response Center and the Deposit Insurance Division, respectively. In order to improve the efficiency and effectiveness of these offices and to better serve consumers and depositors, the FDIC consolidated the two offices under one organization entitled the National Center for Consumer and Depositor Assistance.

To ensure consumers have the most up-to-date contact information FDIC for filing consumer complaints and deposit insurance requests, the FDIC makes technical corrections to 12 CFR Part 338 and 12 CFR Part 343 to replace references to the “Consumer Response Center” with “National Center for Consumer and Depositor Assistance,” and to correct web addresses.

This technical fix may benefit some consumers by making it easier for them to contact you FDIC for complaints or questions about deposit insurance. The fix doesn’t change anything FDIC Requirements affecting their supervised institutions.

list of topics

12 CFR Part 338

Age, banks, banking, civil rights, credit, decent housing, people with disabilities, marital status discrimination, mortgages, religious discrimination, reporting and record keeping, savings associations, gender discrimination, signs and symbols.

12 CFR Part 343

Banks, banks, consumer protection, insurance companies, savings banks.

Authority and issue For the reasons stated in the preamble, the FDIC amends 12 CFR Parts 338 and 343 as follows:

PART 338 – FAIR FLAT

1. The authority citation for part 338 continues as follows:

Authority:12 USC 1817, 1818, 1819, 1820(b), 2801 et seq Seq.; 15 USC 1691 et seq.; 42 U.S.C. 3605, 3608; 12 CFR Parts 1002, 1003; 24 CFR Part 110.

2. Change SEC 338.4 by amending paragraph (b) as follows:

SEC 338.4 Fair Housing Poster.

*****

(b) The Equal Housing Lender Poster must be at least 11″ x 14″ and contain the following text:

We act in accordance with Federal Fair Lending Laws.

UNDER THE FEDERAL KNIVES HOUSING ACT, IT IS PROHIBITED ON THE BASIS OF RACE, COLOR, NATIONAL ORIGIN, RELIGION, GENDER, DISABILITY, OR FAMILY STATUS (WITH CHILDREN UNDER THE AGE OF 18):

* refusing a loan for the purpose of buying, building, improving, repairing or maintaining a home or refusing a loan secured by a home; or

* Do not discriminate when determining the amount, interest rate, term, application process or other terms of such a loan or when valuing real estate.

IF YOU FEEL that you have been discriminated against, YOU SHOULD SEND A COMPLAINT TO:

Deputy Secretary for fair living and equal opportunities Department of Housing and Urban Development, Washington, D.C 20410.

For processing under the Federal Justice Housing Act

AND TO:

Federal Deposit Insurance Company, National Center for Consumer and Deposit Assistancehttps://ask.fdic.gov/fdicinformationandsupportcenter.

For processing in accordance with FDIC regulations.

ACCORDING TO THE EQUAL CREDIT OPPORTUNITIES ACT, IT IS NOT PERMITTED TO DISCRIMINATE IN LOAN TRANSACTIONS:

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

* Because income comes from welfare; or

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

IF YOU FEEL that you have been discriminated against, YOU SHOULD SEND A COMPLAINT TO:

Federal Deposit Insurance Company, National Center for Consumer and Deposit Assistancehttps://ask.fdic.gov/fdicinformationandsupportcenter.

*****

PART 343 – CONSUMER PROTECTION IN SALES OF INSURANCE

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

Authority: 12 USC 1819 (Seventh and Tenth), 1831x.

4. Revise Appendix A to Part 343 as follows:

Appendix A to Part 343 – Consumer Complaints Procedure Any consumer who believes that an entity or other person selling, purchasing, promoting or offering insurance products or annuities to the consumer at or on behalf of the entity is violating the entity The requirements of this part should apply to the Depositor and Consumer Protection Department, National Center for Consumer and Deposit Assistance, Federal Deposit Insurance Company, 1100 Walnut Streetfield no. 11, Kansas City, MO 64106 or phone 1-877-275-3342 or FDIC Electronic Customer Assistance Form at https://ask.fdic.gov/fdicinformationandsupportcenter.

Federal Deposit Insurance Company.

Dated to Washington, D.Con August 3, 2022.

James P Sheesley,

Deputy Executive Secretary.

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

INVOICE CODE 6714-01-P

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