Fed · final-rule · Published 1997-12-01 · 62 FR 63441
Document
Document number
97-31087
Federal Register citation
62 FR 63441
CFR reference
12 CFR 226
Type
Rule
Action
Final rule.
Category
final-rule
Agency
US Federal Reserve System
Publication date
1997-12-01
Docket
Regulation Z
Abstract
The Board is publishing revisions to Regulation Z. The revisions implement an amendment to the Truth in Lending Act contained in the Economic Growth and Regulatory Paperwork Reduction Act of 1996 affecting the disclosure of a fifteen-year historical example of rates and payments. The amendment applies to variable-rate loans with a term exceeding one year and secured by the consumer's principal dwelling. The amendment allows creditors to provide a statement that the periodic payment may substantially increase or decrease together with a maximum interest rate and payment based on a $10,000 loan amount, in lieu of having to provide a fifteen-year historical example of index values.