28 Apr 2025
💳Extension of Regulation II Recordkeeping & Disclosure Requirements
Agency Information Collection Activities: Announcement of Board Approval Under Delegated Authority and Submission to OMB
Summary
The Board of Governors of the Federal Reserve System (Board) is adopting a proposal to extend for three years, without revision, the Recordkeeping and Disclosure Requirements Associated with Regulation II (FR II; OMB No. 7100-0349).
Agencies
- Federal Reserve System
Business Impact
$$ - Med
The document discusses the extension of recordkeeping and disclosure requirements under Regulation II, which affects debit card issuers and payment card networks. These entities must comply with fraud-prevention policies and procedures to retain eligibility for adjustments. Firms must allocate resources for recordkeeping and compliance, influencing operational budgets.