Gambling

Over strong industry objections, the Fed and Treasury have issued regulations requiring financial institutions to safeguard the payments system from handling payments to illegal gambling operations.

More Time

The FDIC has extended for 30 days (until December 17, 2008) the comment period for a part of its proposal on risk-based deposit insurance assessments. The affected part deals with changing the way in which the risk-based assessment system differentiates for risk. The extension does not apply to the part of the proposed seven-basis point increase in assessment rates, which takes effect January 1, 2009.