Thread Options
#379732 - 07/01/05 10:44 AM Reg Z - 36 and counting
Richard Insley Online
Power Poster
Richard Insley
Joined: Oct 2000
Posts: 9,999
Toano, VA
Today marks Reg. Z's 36th birthday - making it older than many of the bankers who struggle to understand and comply!

During this amazing lifespan, disclosure production has gone from manual (using tables to compute APRs and carbon paper to produce copies) to sophisticated front-end systems with disclosure document generators. The next step would appear to be a web-based disclosure generator (calculate the TIL values on a server, obtain ESIGN consent, and email the result.) Is anyone there yet?
_________________________
...gone fishing.

Return to Top
Lending Compliance
#379733 - 07/01/05 11:15 AM Re: Reg Z - 36 and counting
rlcarey Online
10K Club
rlcarey
Joined: Jul 2001
Posts: 77,247
Galveston, TX
Up bright and early and kicking off the birthday party early I see. Unfortunately I'm not one of the struggling bankers you referenced - I appear to be a little older than Reg Z
_________________________
The opinions expressed here should not be construed to be those of my employer: PPDocs.com

Return to Top
#379734 - 07/01/05 12:11 PM Re: Reg Z - 36 and counting
Richard Insley Online
Power Poster
Richard Insley
Joined: Oct 2000
Posts: 9,999
Toano, VA
Quote:

I'm not one of the struggling bankers...




Everyone struggles with some some part of Reg. Z. I whip out the Excedrin whenever open-end credit comes up, and I used to think I understood what is a FC. Your recent discussions about release fees, however, reminds my why you can never conclude that you "understand" Reg. Z and move on to the 36-day-old issues.
_________________________
...gone fishing.

Return to Top
#379735 - 07/01/05 01:08 PM Re: Reg Z - 36 and counting
rlcarey Online
10K Club
rlcarey
Joined: Jul 2001
Posts: 77,247
Galveston, TX
Richard - I didn't mean to infer that I didn't struggle - as you know I do. I was more focused on the age thing!
_________________________
The opinions expressed here should not be construed to be those of my employer: PPDocs.com

Return to Top
#379736 - 07/01/05 02:27 PM Re: Reg Z - 36 and counting
Dan Persfull Offline
10K Club
Dan Persfull
Joined: Aug 2002
Posts: 46,417
Bloomington, IN
Unfortunately, I'm not struggling with the age difference either. I had my first introduction to Reg. Z in 1974 when I went to work for Commercial Credit Corporation in Rolla, MO at the ripe old age of 23.

I forgot to add that Reg. Z was born in the year I graduated high school. I didn't know about its birth and in some ways I wish I still didn't. But it is job security for some of us. Or is it?
Last edited by Dan Persfull; 07/01/05 02:32 PM.
_________________________
The opinions expressed are mine and they are not to be taken as legal advice.

Return to Top
#379737 - 07/01/05 05:40 PM Re: Reg Z - 36 and counting
Richard Insley Online
Power Poster
Richard Insley
Joined: Oct 2000
Posts: 9,999
Toano, VA
Quote:

But it is job security for some of us. Or is it?



It's kept me off the bread lines for a long time.
_________________________
...gone fishing.

Return to Top

Moderator:  Andy_Z