Federal Reserve Regulations

The Federal Reserve Board sets the Federal Reserve regulations, which are rules set to govern banks and protect consumers. Things like predatory banking practices, unethical lending, and privacy are all things that the Fed (a.k.a. the Federal Reserve) is responsible for preventing.

The Fed is a kinda-independent-of-the-rest-of-government governmental agency meant to regulate the banks. Yet many people on the Federal Reserve Board have had their hands in the coffers of big banks. While Federal Reserve regulations are designed to protect consumers, the way in which the big banks were merely slapped on the wrist after causing the Great Recession of 2007-2009, for example, has people raising their eyebrows at what’s going on over there.

There are so many regulations at the Fed that they're organized alphabetically...kinda. If you go to the Fed website, you’ll see that you can click on letters A - Z...which then go on to include AA, BB, CC, etc. Each of those letters corresponds to regulations that have been grouped together. For instance, “D” is reserve requirement regulations for banks, “M” covers consumer lending and the “Truth in Lending Act,” and AA includes unfair or deceptive acts or practices.