Request for comments on review of open-end credit rules, Regulation Z.
The Federal Reserve Board issued for public comment on December 3, 2004, an advance notice of proposed rulemaking (ANPR) announcing a review of the open-end (revolving) credit rules of the Board's Regulation Z (Truth in Lending), which implements the Truth in Lending Act.The Board periodically reviews each of its regulations to update them, if necessary.
Open-end credit generally refers to a revolving line of credit (such as a credit card account) where repeated transactions are expected, the available credit is replenished as unpaid balances are repaid, and finance charges are assessed on unpaid balances. The ANPR seeks comment on a variety of specific issues relating to three broad categories: (1) the format of open-end credit disclosures; (2) the content of the disclosures; and (3) the substantive protections provided under the regulation. The ANPR solicits comments on the scope of the review, and also requests commenters to identify other issues that the Board should consider addressing in the review.
Comments must be received on or before March 28, 2005.
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| Title Annotation: | Announcements |
|---|---|
| Publication: | Federal Reserve Bulletin |
| Article Type: | Brief Article |
| Geographic Code: | 1USA |
| Date: | Jan 1, 2005 |
| Words: | 169 |
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| Next Article: | Fee schedules for Federal Reserve priced services for 2005. |
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