Federal Deposit
Insurance Corporation
Each depositor insured to at least $250,000 per insured bank
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Home > News & Events > Inactive Financial
Institution Letters |
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Inactive Financial Institution Letters |
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FIL-39-98 |
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The Board of Governors of the Federal
Reserve System (FRB) has approved the attached revisions and updates to
the staff commentary for Regulation Z, which implements the Truth in Lending
Act. The staff commentary applies and interprets the requirements of Regulation
Z.
The revisions became effective on
March 31, 1998. Compliance is optional until October 1, 1998.
The revisions provide guidance to
creditors on such topics as the treatment of annuity costs in reverse mortgage
transactions and transaction fees imposed on checking accounts with overdraft
protection. The amendments also include guidance on disclosures involving
insurance and debt cancellation coverage.
For further information, please contact
one of the following from the FRB's Division of Consumer and Community Affairs
at (202) 452-3667 or (202) 452-2412:
You may also contact at the FDIC:
Attachment: Federal Register, April 6 Fed. Reg., pages 16669-16678 Distribution: FDIC-Supervised Banks (Commercial and Savings) NOTE: Paper copies of FDIC financial institution letters may be obtained through the FDIC's Public Information Center, 801 17th Street, N.W., Room 100, Washington, D.C. 20434 (800-276-6003 or (703) 562-2200). |
| Last Updated 03/21/2007 | communications@fdic.gov |