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This article reviews the scope of the self-testing privilege as set forth in the Economic Growth and Regulatory Paperwork Reduction Act of 1996 and discusses the Federal Reserve Board's definition of self-test and the additional requirements imposed by Regulation B and the FRB's Official Staff Commentary. The author argues that the self-testing privilege will not have much effect on creditors and their compliance with the Equal Credit Opportunity Act.

Examines the new Securities & Exchange Commission proposal that proposes new bank "pushout" rules under the Securities Exchange Act; How the agency suspended its original rules in May after complaints that the rules would disrupt a variety of established bank activities; Why the agency has failed in this issue; Background on the broker-deal regulations; The Gramm-Leach-Bliley Act which gave the agency the right to regulate bank securities but had to do so without unnecessarily disrupting traditional bank activities; How the rules try to address to conflicting considerations; Belief the end result will satisfy neither party.