So I'm reading a news letter we recieve monthly (from a very reputable nation-wide company) and It's mentioning that there is now a new mandatory loan disclosure. The new law has a different difenition of APR rates than the one found in Truth in Lending. To comply with both laws, they are expecting banks to to give borrowers two sets of rate disclosure documents,showing different figures.
I'm confused and haven't heard or been able to find anything else on the matter. Anyone know what I'm talking about?