Banking


The federal reserve board of governors adopts a rule that revises official staff commentary on regulation E, which implements the Electronic Funds Transfer Act. The new rule provides compliance guidance on electronic check conversion transactions, computer-initiated bill payments and electronic authorizations of recurring debits from a consumer’s bank account ( www.fdic.gov/news/news/financial/2001/fil0133.html ).

A senior official of the Office of the Comptroller of the Currency stresses the need for banks to carefully manage the privacy-protection activities of third-party service providers to whom they entrust nonpublic customer information ( www.occ.treas.gov/ftp/re lease/2001-39.txt ).

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The technology assessment engagement

Are you working with the best technology? Do you know how to help your clients determine if their technology stack measures up? In this free report, J. Carlton Collins, CPA, explains how to answer those questions via a technology assessment engagement.

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Maximizing the higher education tax credits

A counterintuitive strategy can save taxes by including otherwise excludable scholarships in gross income.