Comments on Regulation Z of the Truth in Lending Act (tila)

by Moe Bedard to
29 December 2010
Truth in Lending Act (tila)
WASHINGTON DC (usually through the Federal Reserve System on 29/12/2010) - The Board is publishing for comment an interim rule amending Regulation Z, which implements the Truth in Lending Act (TILA). This interim report, the Board revised rule, the interim rule to 24 September 2010 published the specific requirements of the Mortgage Disclosure Improvement Act of 2008 implemented. The September 2010 Interim report Rule requires creditors consumer credit offered by real estate or an apartment to overview information about interest rates and payment changes in tabular form to indicate to extend secured.
The Board is issuing this interim report from the rule to clarify certain provisions of the September 2010 Interim Report rule. In particular, this rule clarifies the requirements for variable rate transactions, "5 / 1 ARM" loans. It corrects the requirements for interest-only loans in order to clarify that the information should change the date the interest rate rather than the date the first payment is due under the new tariff to reflect. This interim report of the rule to clarify the change in the definition of "negative amortization" loans, which transactions are covered by the specific disclosure requirements for such loans.
This article has a comment period, in 61 days (02/28/2011) ends
Continue to read and comment here in the Federal Register
 



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