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Explaining the Fed Box

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Question: 
Who created the Fed Box? Must it always be used for the required disclosures, or are their alternatives?
Answer: 

The term "Fed Box" is slang for the TIL disclosure required by section 226.17 of Reg Z. Here is a portion of Reg Z that sets up the "Fed Box."

Section 226.17 General disclosure requirements.

(a) Form of disclosures. (1) The creditor shall make the disclosures required by this subpart clearly and conspicuously in writing, in a form that the consumer may keep. The disclosures shall be grouped together, shall be segregated from everything else, and shall not contain any information not directly related 37 to the disclosures required under Section 226.18. 38 The itemization of the amount financed under Section 226.18(c)(1) must be separate from the other disclosures under that section.

First published on BankersOnline.com 6/3/02

First published on 06/03/2002

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