Before the end of the 9-month period beginning on December 19, 1991, the Bureau, after consultation with each agency referred to in section
4309(a) of this title and public notice and opportunity for comment, shall prescribe regulations to carry out the purpose and provisions of this chapter.
(2) Effective date of regulations
The regulations prescribed under paragraph (1) shall take effect not later than 9 months after publication in final form.
(3) Contents of regulations
The regulations prescribed under paragraph (1) may contain such classifications, differentiations, or other provisions, and may provide for such adjustments and exceptions for any class of accounts as, in the judgment of the Bureau, are necessary or proper to carry out the purposes of this chapter, to prevent circumvention or evasion of the requirements of this chapter, or to facilitate compliance with the requirements of this chapter.
(4) Date of applicability
The provisions of this chapter shall not apply with respect to any depository institution before the effective date of regulations prescribed by the Bureau under this subsection (or by the National Credit Union Administration Bureau  under section
4311(b) of this title, in the case of any depository institution described in clause (iv) of section
461(b)(1)(A) of this title).
(b) Model forms and clauses
(1) In general
The Bureau shall publish model forms and clauses for common disclosures to facilitate compliance with this chapter. In devising such forms, the Bureau shall consider the use by depository institutions of data processing or similar automated machines.
(2) Use of forms and clauses deemed in compliance
Nothing in this chapter may be construed to require a depository institution to use any such model form or clause prescribed by the Bureau under this subsection. A depository institution shall be deemed to be in compliance with the disclosure provisions of this chapter if the depository institution—
(A)uses any appropriate model form or clause as published by the Bureau; or
(B)uses any such model form or clause and changes it by—
(i)deleting any information which is not required by this chapter; or
(ii)rearranging the format,
if in making such deletion or rearranging the format, the depository institution does not affect the substance, clarity, or meaningful sequence of the disclosure.
(3) Public notice and opportunity for comment
Model disclosure forms and clauses shall be adopted by the Bureau after duly given notice in the Federal Register and an opportunity for public comment in accordance with section
553 of title
4311(b) of this title, referred to in subsec. (a)(4), was in the original “section
12(b)”, probably meaning section 12(b) ofPub. L. 102–242, and was translated as meaning section 272(b) ofPub. L. 102–242, to reflect the probable intent of Congress.
1992—Pub. L. 102–550, § 1604(e)(2)(D)–(H), made technical amendment to references to “this chapter” wherever appearing to reflect correction of corresponding provision of original act.
Subsec. (a)(2). Pub. L. 102–550, § 957(b), substituted “9 months” for “6 months”.
Effective Date of 2010 Amendment
Amendment by Pub. L. 111–203effective on the designated transfer date, see section 1100H ofPub. L. 111–203, set out as a note under section
552a of Title
5, Government Organization and Employees.
Effective Date of 1992 Amendment
Amendment by section 1604 ofPub. L. 102–550effective as if included in the Federal Deposit Insurance Corporation Improvement Act of 1991, Pub. L. 102–242, as of Dec. 19, 1991, see section 1609(a) ofPub. L. 102–550, set out as a note under section
191 of this title.
The table below lists the classification updates, since Jan. 3, 2012, for this section. Updates to a broader range of sections may be found at the update page for containing chapter, title, etc.
The most recent Classification Table update that we have noticed was Tuesday, August 13, 2013
An empty table indicates that we see no relevant changes listed in the classification tables. If you suspect that our system may be missing something, please double-check with the Office of the Law Revision Counsel.