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Guidance on Deposit-Related Consumer Credit Products

Document Details

Information about this document as published in the Federal Register.

Published Document

This document has been published in the Federal Register. Use the PDF linked in the document sidebar for the official electronic format.

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Office of the Comptroller of the Currency, Treasury (OCC).


Extension of comment period.


On June 8, 2011, the OCC published in the Federal Register a proposed guidance with request for comment to clarify the OCC's application of the principles of safe and sound banking practices in connection with deposit-related consumer credit products such as automated overdraft protection and direct deposit advance programs.

Due to the complexity of the proposed guidance, and to allow parties more time to consider its potential impact, the OCC has determined that an extension of the comment period until August 7, 2011 is appropriate. This action will allow interested persons additional time to analyze the proposed guidance and prepare their comments.


Comments must be submitted on or before August 7, 2011.


Because paper mail in the Washington, DC area and at the OCC is subject to delay, commenters are encouraged to submit comments by e-mail, if possible. Please use the title “Guidance on Deposit-Related Consumer Credit Products” to facilitate the organization and distribution of the comments. You may submit comments by any of the following methods:

  • E-mail:
  • Mail: Office of the Comptroller of the Currency, 250 E Street, SW., Mail Stop 2-3, Washington, DC 20219.
  • Fax: (202) 874-5274.
  • Hand Delivery/Courier: 250 E Street, SW., Mail Stop 2-3, Washington, DC 20219.

Instructions: You must include “OCC” as the agency name and “Docket ID OCC-2011-0012” in your comment. In general, OCC will enter all comments received into the docket and publish them on the Web site without change, including any business or personal information that you provide such as name and address information, e-mail addresses, or phone numbers. Comments received, including attachments and other supporting materials, are part of the public record and subject to public disclosure. Do not enclose any information in your comment or supporting materials that you consider confidential or inappropriate for public disclosure.

You may review comments and other related materials that pertain to this notice by any of the following methods:

  • Viewing Comments Personally: You may personally inspect and photocopy comments at the OCC, 250 E Street, SW., Washington, DC. For security reasons, the OCC requires that visitors make an appointment to inspect comments. You may do so by calling (202) 874-4700. Upon arrival, visitors will be required to present valid government-issued photo identification and to submit to security screening in order to inspect and photocopy comments.
  • Docket: You may also view or request available background documents and project summaries using the methods described above.
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Michael S. Bylsma, Director, Community and Consumer Law Division, (202) 874-5750; Grovetta Gardineer, Deputy Comptroller for Compliance Policy, (202) 874-4428; or Kevin Russell, Director, Retail Credit Risk, (202) 874-5170, Office of the Comptroller of the Currency, 250 E Street, SW., Washington, DC 20219.

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On June 8, 2011, the proposed guidance was published in the Federal Register.[1] The proposed guidance would detail the principles that the OCC expects national banks to follow in connection with any deposit-related consumer credit product to address potential operational, reputational, compliance, and credit risks. The request for comment stated that the public comment period would close on July 8, 2011.[2]

Pursuant to Title III of the Dodd-Frank Wall Street Reform and Consumer Protection Act, effective July 21, 2011, all functions of the Office of Thrift Supervision (OTS) and the Director of the OTS relating to Federal savings associations is transferred to the OCC. As a result, the OCC will assume responsibilities for the ongoing examination, supervision, and regulation of Federal savings associations. Any final guidance on deposit-based credit products in effect for national banks on or after July 21, 2011 will also apply to Federal savings associations.

The OCC has received requests from the public for an extension of the comment period. In order to allow parties, particularly Federal savings associations, additional time to consider the impact of the proposal, the OCC is extending the deadline for submitting comments on the proposed guidance from July 8, 2011 to August 7, 2011.

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Dated: June 30, 2011.

John Walsh,

Acting Comptroller of the Currency.

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[FR Doc. 2011-16942 Filed 7-6-11; 8:45 am]