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Consumer Leasing

Fed · final-rule · Published 1997-04-01 · Effective 1997-04-01 · 62 FR 15364

Document

Document number
97-8200
Federal Register citation
62 FR 15364
CFR reference
12 CFR 213
Type
Rule
Action
Final Rule.
Category
final-rule
Agency
US Federal Reserve System
Publication date
1997-04-01
Effective date
1997-04-01
Docket
Reg. M

Abstract

The Board is publishing revisions to Regulation M, which implements the Consumer Leasing Act. The act requires lessors to provide uniform cost and other disclosures about consumer lease transactions. The revisions primarily implement amendments to the act contained in the Economic Growth and Regulatory Paperwork Reduction Act of 1996, which streamline the advertising disclosures for lease transactions. In addition, the final rule makes the disclosure of upfront costs in connection with a specific lease agreement parallel statutory changes to the advertising rules disclosing upfront costs-- which now include total amounts due by lease signing or delivery, if delivery occurs later. Several technical amendments also have been made to the regulation.

Source

Authoritative
Federal Register document
Machine
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