BACKGROUND
On August 16, 2010, the Federal Reserve Board (“Board”) issued two proposed rules and three final rules governing federal Truth-in-Lending Act (“TILA”) requirements for residential mortgage loans. This Client Alert summarizes the Board’s interim rule that requires the disclosure of an interest rate and payment summary for mortgage loans.
Later Client Alerts will address the Board’s remaining proposals and final rules.
Please see full publication below for more information.
