What is an example of a rule we can expect the CFPB to propose this year?
What are the new rules concerning tax deductibility when advertising home equity products?
I am confused by the TILA rules and FTC Guidance (How to Advertise Consumer Credit) on how to advertise the following product: 10/1 LIBOR ARM. Repayments are "interest only" for 10 years with fixed rate, then for the remaining 20 years of this 30 year loan, the rate becomes variable and the loan is amortized for principal and interest payments. At a minimum, our line of business wants to advertise the amount of the monthly payment. Is this a graduated payment feature loan, or a discounted variable rate plan or something else? Any real-life examples are appreciated.