BIS Review 42/2010  5  private student loans. We also have made new rules for overdraft protection programs and for gift cards. In addition, we have expanded our compliance program for enforcing consumer protection rules at nonbank subsidiaries of bank holding companies and foreign banking organizations.
In these and other areas, we at the Federal Reserve will continue to improve how we regulate and supervise financial firms while continuing to do all in our power to identify and mitigate risks that may endanger the financial system as a whole. Economic challenges Notwithstanding the progress that I’ve noted, critical challenges – both near term and longer term – remain.