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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Get your clients ready for tax season

These year-end tax planning strategies address recent tax law changes enacted to help taxpayers deal with the pandemic, such as tax credits for sick leave and family leave and new rules for retirement plan distributions, as well as techniques for putting your clients in the best possible tax position.

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