Fair Housing Rule, Insurance Sales Consumer Protection Rule; Technical correction – InsuranceNewsNet

Technical correction.

CFR Part: “12 CFR Parts 338 and 343”

RIN number: “RIN 3064-AF84”

Citation: “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 the reorganization and name change of its former Consumer Response Center. The new name is National Consumer and Depositor Assistance Center (NCDA). The two ordinances are FDIC Fair Housing Rule and Insurance Sales Consumer Protection Rule.

DATES:

Effective August 8, 2022.

FOR MORE INFORMATION CONTACTS: Alice W. BrownAttorney, Legal Department, 202-898-3565, [email protected]; Thaddeus J. Kingpolitical analyst, Department of Depositor and Consumer Protection202-898-3541, [email protected].

MORE INFORMATION:

Background The final regulations that are the subject of this technical correction are the Fair Housing Rule and the Insurance Consumer Protection Rule. The Fair Housing Rule prohibits FDIC-supervised institutions from engaging in discriminatory advertising involving residential real estate transactions. The Insurance Sales Consumer Protection Rule prohibits certain acts in connection with retail sales practices, solicitations, advertisements, or offers of insurance products.

Necessity and consequences of the technical correction

Historically, FDIC operated two separate offices to carry out its consumer assistance and depositor assistance functions, the Consumer Response Center and the Deposit Guarantee Department, respectively. To improve the efficiency and effectiveness of these offices and to better serve consumers and depositors, the FDIC consolidated the two offices into one organization entitled the National Consumer and Depositor Assistance Center.

To ensure users have the most up-to-date information on how to contact FDIC for filing consumer complaints and deposit insurance inquiries, 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 fix web addresses.

This technical fix may benefit some users by making it easier for them to connect to FDIC regarding complaints or questions about deposit insurance. The patch doesn’t change anything FDIC requirements affecting its supervisory institutions.

List of subjects

12 CFR Part 338

Seniors, Banks, banking, Civil rights, Credit, Fair housing, People with disabilities, Marital status discrimination, Mortgages, Religious discrimination, Accountability and record keeping requirements, Savings associations, Gender discrimination, Signs and symbols.

12 CFR Part 343

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

Authority and Issuance For the reasons stated in the preamble, of FDIC amends 12 CFR parts 338 and 343 to read 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 et consistency; 15 USC 1691 et seq.; 42 USC 3605, 3608; 12 CFR parts 1002, 1003; 24 CFR part 110.

2. Modify SEC 338.4 by revising paragraph (b) to read as follows:

SEC 338.4 Fair housing poster.

*****

(b) The equal housing lender poster must be at least 11 by 14 inches in size and have the following text:

We do business in compliance with federal Fair Lending Laws.

UNDER THE FEDERAL FAIR HOUSING ACT, IT IS UNLAWFUL ON THE BASIS OF RACE, COLOR, NATIONAL ORIGIN, RELIGION, SEX, DISABILITY, OR MARITAL STATUS (HAVING CHILDREN UNDER THE AGE OF 18) TO:

* To refuse a loan for the purpose of purchasing, building, improving, repairing or maintaining a dwelling or to refuse a loan secured by a dwelling; or

* Discrimination in determining the amount, interest rate, duration, application procedures or other terms or conditions of such loan or in the valuation of property.

IF YOU THINK 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 20410.

For processing under the Federal Fair Housing Act

AND TO:

Federal Deposit Insurance Corporation, National Consumer and Deposit Assistance Centerhttps://ask.fdic.gov/fdicinformationandsupportcenter.

For processing under FDIC regulations.

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

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

* Because the income is from social assistance; or

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

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

Federal Deposit Insurance Corporation, National Consumer and Deposit Assistance Centerhttps://ask.fdic.gov/fdicinformationandsupportcenter.

*****

PART 343–CONSUMER PROTECTION IN SALES 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 Complaint Procedure Any consumer who believes that an institution or other person selling, soliciting, advertising or offering insurance products or annuities to the consumer at an office of the institution or on behalf of the institution has violated the requirements on this part you need to contact Department of Depositor and Consumer Protection, National Consumer and Deposit Assistance Center, Federal Deposit Insurance Corporation, 1100 Walnut Streetbox #11, Kansas City, Missouri 64106, or telephone 1-877-275-3342, or the FDIC Electronic Customer Assistance Form at https://ask.fdic.gov/fdicinformationandsupportcenter.

Federal Deposit Insurance Corporation.

Date of WashingtonOn August 3, 2022.

James P. Sheasley,

Assistant Executive Secretary.

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

BILLING CODE 6714-01-P

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