Regulations are intended to inform and protect the customer. They also protect the corporation from potential liability. Regulations are not the enemy of design, they don’t need to be defeated or circumvented. They need to be understood and implemented in a way that serves the intended purpose – and the same could be said of any portion of content in any information design project. Once you learn enough to color inside the regulatory lines you’re much more likely to be able to influence where those lines are drawn.
A quick note on some regulations that are impacting transaction documents in the Financial Services Vertical: 1. Cost Basis Reporting 2. 401(k) Fee Disclosure The Emergency Economic Stabilization Act of 2008 is best known for the $700 billion bailout provision – but also includes new requirements for financial intermediaries to report adjusted cost basis to investors and the… Read More »
For card issuers already struggling with portions of the Act that go into effect this week (see Countdown to the CARD Act Part One) the clock is ticking to get all of these changes designed, coded and tested in advance of the February 2010 deadline. I’ve summarize the key content and formatting changes to each type of document below.