This should make everybody's day.
Fed Announcement

Geeeez Louise! Do they realize that most people chunk these disclosures in the trash!

"Establishing a more uniform standard...for providing disclosures"...? OMG!

You mean, they actually want to standardize something and make things easier for us? I feel my job security slipping a little...

Thanks for the information!

Thanks, it's always interesting when the government tries to standardize anything...

How about we print up this thread and send it as our comment letter?

Compliance Disclosures

I have heard rumblings about this in the past and I am actually eager to see what they could come up with. I give them credit where credit is due. Look at the way regulations are now being written, it is more readable and usually doesn't take an attorney looking over your shoulder to assist you. Also with the section by section analysis that they issue along with any new changes. I think they are listening to us, I just think that by they time they make some of these changes, so many new disclosure requirements have already been issued. For example, Privacy, CIP, and the new Check 21 will have disclosure requirements. They didn't even touch Reg CC, insurance, RESPA, etc..

I just cross my fingers and pray they get this one right.

Looks like the main focus is defining "clear and conspicuous" and setting minimum font size requirements (12 pt type is considered to be okay -- less than 8 pt type would likely be too small to satisfy the standard). When I worked for a major credit card issuer, I went through this in 2001 when Reg. Z imposed these standards on credit card solicitations - they gave us about 1 year to implement before mandatory compliance. If this proposal becomes final (and I believe it will), look for increased costs in producing disclosures/marketing materials resulting from the new standards.

Wonder what Harland Financial will say. Some of the LaserPro and Deposit Pro fonts seem to be on the small side.