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Truth in Lending

Fed · notice · Published 1998-12-08 · Effective 1999-01-01 · 63 FR 67575

Document

Document number
98-32460
Federal Register citation
63 FR 67575
CFR reference
12 CFR 226
Type
Rule
Action
Notice of adjustment of dollar amount.
Category
notice
Agency
US Federal Reserve System
Publication date
1998-12-08
Effective date
1999-01-01
Docket
Regulation Z

Abstract

The Board is publishing an adjustment to the dollar amount that triggers certain requirements of Regulation Z (Truth in Lending) for mortgages bearing fees above a certain amount. The Home Ownership and Equity Protection Act of 1994 sets forth rules for home-secured loans in which the total points and fees payable by the consumer at or before loan consummation exceed the greater of $400 or 8 percent of the total loan amount. The Board has annually adjusted the $400 amount based on the annual percentage change reflected in the Consumer Price Index that is in effect on June 1. For 1999, the adjusted dollar amount is $441.

Source

Authoritative
Federal Register document
Machine
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