Department of the Treasury, Office of Thrift Supervision: Unfair or Deceptive Acts or Practices; Amendment
GAO-10-912R: Jul 13, 2010
- Full Report:
GAO reviewed the Department of the Treasury, Office of Thrift Supervision's (OTS) new rule on unfair or deceptive acts or practices. GAO found that (1) the final rule amends the regulations at 12 C.F.R. part 535 titled "Prohibited Consumer Credit Practices," published in January 2009 (January 2009 UDAP rule), to avoid duplication and inconsistency with the Credit Card Accountability Responsibility and Disclosure Act of 2009 and the rules of the Board of Governors of the Federal Reserve implementing that statute; and (2) OTS complied with applicable requirements in promulgating the rule.