48686 Federal Register / Vol. 80, No. 157 / Friday, August 14, 2015 / Rules and Regulations 

14 77 FR at 46,264. 

fraud prevention technologies, card 

reissuance due to fraudulent activity, 

data security, and card activation.14

As noted above, section 920(a)(4)(B) 

specifically directs the Board to 

consider in establishing the interchange 

fee standard the costs ‘‘incurred by the 

issuer for the role of the issuer in the 

authorization, clearance or settlement of 

a particular transaction.’’ Transactions 

monitoring is an integral part of the 

authorization process, so that the costs 

incurred in that process are part of the 

authorization costs that the Board is 

required by the statute to consider when 

establishing the interchange fee 

standard. In addition, the statutory 

language of section 920(a)(5), which 

differs in important respects from 

section 920(a)(4)(B), supports the 

Board’s decision to include 

transactions-monitoring costs in the 

interchange fee standard rather than in 

the separate fraud prevention 

adjustment. The costs considered in 

section 920(a)(5)(A)(i) are those of 

preventing fraud ‘‘in relation to 

electronic debit transactions,’’ rather 

than costs of ‘‘a particular electronic 

debit transaction’’ referenced in section 

920(a)(4)(B). Congress’s elimination of 

the word ‘‘particular’’ and its use of the 

more general phrase ‘‘in relation to,’’ 

along with its use of the plural 

‘‘transactions,’’ indicates that the fraudprevention adjustment may take into 

account an issuer’s fraud prevention 

costs over a broad spectrum of 

transactions that are not linked to a 

particular transaction. 

Moreover, section 920(a)(5) permits 

the Board to adopt a separate 

adjustment ‘‘to make allowance for costs 

incurred by the issuer in preventing 

fraud in relation to electronic debit 

transactions involving that issuer’’ if 

certain standards are met, and directs 

that those standards include that the 

issuers take steps to ‘‘reduce the 

occurrence of, and costs from, fraud in 

relation to electronic debit 

transactions,’’ including ‘‘development 

and implementation of cost-effective 

fraud prevention technology.’’ Section 

920(a)(5)(A)(i), (A)(ii)(II) (emphasis 

supplied). The use of the general phrase 

‘‘fraud in relation to electronic debit 

transactions’’ and the specific reference 

to developing fraud prevention 

technology suggest a Congressional 

intent to use the fraud prevention 

adjustment to encourage issuers to 

develop and adopt programmatic 

improvements to address fraud outside 

of the context of particular transactions 

that incur costs for authorization, 

clearance, or settlement. The types of 

costs the Board included in the separate 

fraud prevention adjustment are 

programmatic costs, such as researching 

and developing new fraud prevention 

technologies and data security, and 

other costs that encourage enhanced 

fraud prevention that are not necessary 

to effect particular transactions. 

The Board is publishing this 

explanation in accordance with the 

opinion of the Court of Appeals. 

By order of the Board of Governors of the 

Federal Reserve System, August 10, 2015. 

Robert deV. Frierson, 

Secretary of the Board. 

[FR Doc. 2015–19979 Filed 8–13–15; 8:45 am] 

BILLING CODE P 

DEPARTMENT OF TRANSPORTATION 

Federal Aviation Administration 

14 CFR Part 1 

Definitions and Abbreviations 

CFR Correction 

In Title 14 of the Code of Federal 

Regulations, Parts 1 to 59, revised as of 

January 1, 2015, on pages 12 and 13, in 

§ 1.1, the definitions beginning with VA

and ending with VS are removed. 

[FR Doc. 2015–20045 Filed 8–13–15; 8:45 am] 

BILLING CODE 1505–01–D 

DEPARTMENT OF TRANSPORTATION 

Federal Aviation Administration 

14 CFR Part 71 

[Docket No. FAA–2015–3325; Airspace 

Docket No. 15–AWP–15] 

Amendment of Class D and E 

Airspace; Santa Rosa, CA 

AGENCY: Federal Aviation 

Administration (FAA), DOT. 

ACTION: Final rule, technical 

amendment. 

SUMMARY: This action amends Class D 

airspace and Class E airspace designated 

as an extension at Santa Rosa, CA, by 

updating the geographic coordinates of 

Charles M. Schulz-Sonoma County 

Airport to coincide with the FAAs 

database. This action does not involve a 

change in the dimensions or operating 

requirements of the airspace. 

DATES: Effective 0901 UTC, October 15, 

2015. The Director of the Federal 

Register approves this incorporation by 

reference action under title 1, Code of 

Federal Regulations, part 51, subject to 

the annual revision of FAA Order 

7400.9 and publication of conforming 

amendments. 

ADDRESSES: FAA Order 7400.9Y, 

Airspace Designations and Reporting 

Points, and subsequent amendments can 

be viewed online at http://www.faa.gov/ 

airtraffic/publications/. The Order is 

also available for inspection at the 

National Archives and Records 

Administration (NARA). For 

information on the availability of this 

material at NARA, call (202) 741–6030, 

or go to http://www.archives.gov/

federal_register/code_of_federalregulations/ibr_locations.html. 

FAA Order 7400.9, Airspace 

Designations and Reporting Points, is 

published yearly and effective on 

September 15. For further information, 

you can contact the Airspace Policy and 

ATC Regulations Group, Federal 

Aviation Administration, 800 

Independence Avenue SW., Washington 

DC 29591; Telephone: (202) 267–8783. 

FOR FURTHER INFORMATION CONTACT: Rob 

Riedl, Federal Aviation Administration, 

Operations Support Group, Western 

Service Center, 1601 Lind Avenue SW., 

Renton, WA, 98057; Telephone (425) 

203–4534. 

SUPPLEMENTARY INFORMATION: 

Authority for this Rulemaking 

The FAA’s authority to issue rules 

regarding aviation safety is found in 

Title 49 of the United States Code. 

Subtitle I, Section 106, describes the 

authority of the FAA Administrator. 

Subtitle VII, Aviation Programs, 

describes in more detail the scope of the 

agency’s authority. This rulemaking is 

promulgated under the authority 

described in Subtitle VII, Part A, 

Subpart I, Section 40103. Under that 

section, the FAA is charged with 

prescribing regulations to assign the use 

of airspace necessary to ensure the 

safety of aircraft and the efficient use of 

airspace. This regulation is within the 

scope of that authority as it amends 

Class D and Class E airspace at Santa 

Rosa, CA. 

History 

The FAAs Aeronautical Information 

Services identified that the airport 

reference point (ARP) was not 

coincidental with the FAA’s 

aeronautical database. This action 

makes these corrections. Accordingly, 

since this action merely adjusts the 

geographic coordinates of the airport, 

notice and public procedure under 

553(b) are unnecessary. 

Class D and E airspace designations 

are published in paragraphs 5000 and 

6004, respectively, of FAA Order 

7400.9Y, dated August 6, 2014, and 


tkelley on DSK3SPTVN1PROD with RULES