# Truth in Lending
> **US Federal Reserve System** · Final rule; official staff interpretation. · Published 1998-04-06 · Effective 1998-03-31 · 63 FR 16669
## Document
- **Document number:** 98-8829
- **Category:** final-rule
- **Agency:** US Federal Reserve System
- **Federal Register citation:** 63 FR 16669
- **CFR reference:** 12 CFR 226
- **Publication date:** 1998-04-06
- **Effective date:** 1998-03-31
- **Docket:** Regulation Z
## Abstract

The Board is publishing revisions to the official staff commentary to Regulation Z (Truth in Lending). The commentary applies and interprets the requirements of Regulation Z. The update addresses increased rates for open-end plans triggered by events such as late payments or exceeding credit limits. It provides guidance on deferred payment transactions in open-end plans. It also addresses how creditors may determine whether credit is an open-end plan or a closed-end transaction. In addition, the update discusses issues such as the treatment of annuity costs in reverse mortgage transactions and transaction fees imposed on checking accounts with overdraft protection.

## Source
- [Federal Register document](https://www.federalregister.gov/documents/1998/04/06/98-8829/truth-in-lending)
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