Bankowość · 13/06/2003

OCC Delays Compliance Date for Debt Cancellation Contracts and Debt Suspension Agreements

The Office of the Comptroller of the Currency (OCC) has delayed the compliance date for certain provisions of the final rule governing debt cancellation contracts (DCCs) and debt suspension agreements (DSAs) to allow further consideration of issues related to their application in closed-end consumer loan transactions offered through unaffiliated agents, while maintaining the existing June 16, 2003, compliance date for all other circumstances.