On 4/20/05, President Bush signed the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005. Title XIII of the law contains some amendments to the Truth In Lending Act. I just found out about this today. I have not read the whole bill but I skimmed Title XIII. The changes affect those that issue credit cards and other types of open end credit. Additional disclosures will be required on periodic statements regarding minimum payment examples and late charges. It also affects those that make mortgage loans and home equity loans. Expanded disclosures regarding the deductibility of interest on loans secured by a principal dwelling will be required. This affects loan disclosures and advertisements. It looks like the FRB will have to issue regulations to implement these provisions. Most of the amendments will take effect by 4-20-06 (12 months after enactment) or 12 months after the date of publication of the final regulations, whichever is later.

Here is a link to legislative section of the Library of Congress web site.

http://thomas.loc.gov/

Go to the search section and select search by bill number. Enter S.256.ENR and you will get to the version of the bill that was enrolled and agreed to by the House and Senate.