. 21. proposed rules on remittance transfers disclosures ( regulation e ) [ r - 1419 ]. on may 12, 2011, the board issued a proposed rule to require that remittance transfer providers make certain disclosures to senders of remittance transfers, including information about fees and the exchange rate, as applicable, and the amount of currency to be received by the recipient. the proposed rule also would provide error resolution and cancellation rights for senders of remittance transfers. ( section 1073 ) 1 / 21 / 12 comment period closed ( rule has been transfer to the cfpb ). 22. debit interchange – final rules establishing interchange standards and limitations on payment card restrictions [ r - 1404 ]. on june 29, 2011, the board issued a final rule to establish standards for debit card interchange fees, regulations governing network fees, and prohibitions against network exclusivity arrangements and routing restrictions. the statutory deadline for issuing interchange and network fee rules was april 21, 2011. the final rules to implement the exclusivity and routing restrictions of the act were not due until july 21, 2011, but have been combined with the rules on interchange fees. ( section 1075 ) 4 / 21 / 11 and 7 / 21 / 11 completed. 23. debit interchange – interim final rule regarding fraud prevention adjustment [ r - 1404 ]. on june 29, 2011, the board issued an interim final rule that allows for an upward adjustment of no more than 1 cent to an issuer s debit card interchange fee if the issuer develops and implements policies and procedures reasonably designed to achieve the rule s fraud - prevention standards. ( section 1075 ) 4 / 21 / 11 completed. bis central bankers ’ speeches appendix a to statement by daniel k. tarullo, member, board of governors of the federal reserve system before the committee on banking, housing, and urban affairs u. s. senate washington, dc, december 6, 2011 as of december 5, 2011 rulemaking under title xi 24. final rule to expand coverage under the truth in lending act ( regulation z ) [ r - 1399 ]. on march 25, 2011, the board issued a final rule to require creditors to disclose key terms of consumer loans and prohibit creditors from engaging in certain practices with respect to those loans. ( section 1100 ( e ) ) no deadline completed. 25. final rule to expand coverage under the consumer leasing act ( regulation m ) [ r

frank. members of the board, as well as staff at senior levels, have regular meetings with their counterparts at other agencies to discuss implementation issues of common interest. consultations at multiple levels and across agencies help to improve the consistency of regulation across the banking industry and reduce the potential for overlapping regulatory requirements. in addition, these consultations help highlight the interaction among different rules under development by these agencies, as well as the interplay between proposed policy alternatives and existing regulations. we are also trying to make our rulemaking process as fair and transparent as possible, with ample opportunity for the public to comment. during the proposal stage, we specifically seek comment from the public on the costs and benefits of our proposed approach, as well as on alternative approaches to our proposal. we believe strongly that public participation in the bis central bankers ’ speeches rulemaking process improves our ability to identify and resolve issues raised by our regulatory proposals. we generally provide the public a minimum of 60 days to comment on all significant rulemaking proposals, with longer periods permitted for especially complex or significant proposals. federal reserve staff have participated in more than 300 meetings with outside parties and their representatives, including community and consumer groups. to promote transparency in the rulemaking process, we include in the public record a memorandum describing the attendees and subjects covered in any meetings involving non - governmental participants at which dodd - frank rulemakings are discussed. these summaries are posted on the federal reserve board s website on a weekly basis, as are updates on board rulemakings and other dodd - frank initiatives. third, in drafting regulations, we have made special efforts to identify and, to the degree possible consistent with statutory requirements, minimize the regulatory burden on smaller entities. we conduct an assessment that takes appropriate account of the potential impact a rule may have on small businesses, small governmental jurisdictions, and small organizations affected by the rule, in accordance with the regulatory flexibility act. we have paid particular attention to reducing the regulatory burden on community banking organizations. for example, the federal reserve has established community depository institution advisory councils at each of the 12 federal reserve banks. these councils gather input from community depository organizations on ways to reduce regulatory burden and improve the efficiency of our supervision, and also collect information about the economy from the perspective of community organizations throughout the nation. a representative from each of these 12 advisory councils serves on a national community depository institution advisory council that meets semiannually with the board of governors to bring together the ideas of all the advisory groups. the