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Truth in Lending

Fed · notice · Published 1999-11-05 · Effective 2000-01-01 · 64 FR 60335

Document

Document number
99-29003
Federal Register citation
64 FR 60335
CFR reference
12 CFR 226
Type
Rule
Action
Notice of adjustment of dollar amount.
Category
notice
Agency
US Federal Reserve System
Publication date
1999-11-05
Effective date
2000-01-01
Docket
Regulation Z

Abstract

The Board is publishing an adjustment to the dollar amount that triggers Regulation Z (Truth in Lending) requirements for certain 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. The adjustment for 2000 is $451. EFFECTIVE DATE: January 1, 2000.

Source

Authoritative
Federal Register document
Machine
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