Administrative Rule Review Report  #AR09-032

Legislative Service Office

16-Jun-09

AGENCY: Department of Audit, Banking Division.

DATE SUBMITTED: June 10, 2009.

SUBJECT: Chapter 2, Uniform Consumer Credit Code.

NATURE OF RULES:                     Legislative

STATUTORY AUTHORITY:         W.S. 40-14-102 and 40-14-604

DETERMINATION OF PROCEDURAL COMPLIANCE BASED UPON INFORMATION SUBMITTED BY THE AGENCY TO LSO:  Apparently complete to date.

SUMMARY OF RULES:  The rules being amended deal with disclosure and advertising related to consumer credit.  The rules previously referenced Regulation Z of the Federal Truth in Lending Act as issued and amended January 1, 2005.  The rules are amended to reference Regulation Z as issued and amended January 1, 2009.

FINDINGS:  The rules appear to be within the scope of statutory authority and legislative intent.

STAFF RECOMMENDATION:  That the rules be placed on the Consent List and be approved by the Council as submitted by the Agency.

_______________________

Joshua Anderson

Staff Attorney

_______________________

Lynda G. Cook

Staff Attorney

JDA/