On an ARM loan, what information needs to be shown in the APR area of the Truth In Lending disclosure? Can you just put the adjustable rate information or do you need to state an APR based on the initial rate?
It's official. The Federal Reserve plans to stop predatory lending by making the disclosures for high-cost mortgages more complex.
The core group of compliance regulations are for consumer protection.
Just in time for New Year's, the FRB has issued a proposed update to its Official Staff Commentary to Regulation Z. The Commentary is the exclusive interpretive document for Regulation Z.
Compliance isn't enough. Consumers need help. You can help them. By helping consumers, you provide better service and make your institution more valuable to the consumer.