Consumer Issues & Information


Date Title Category
August 31, 2011 Capital One Public Meetings

The Federal Reserve will hold three public meetings to collect information to help it weigh the expected public benefits of Capital One Financial Corporation’s proposed acquisition of ING Bank. The meetings will take place in Washington, DC on September 20, in Chicago on September 27, and in San Francisco on October 5. Requests to testify are due September 9 for the Washington meeting, September 15 for the Chicago meeting, and September 23 for the San Francisco meeting.

June 13, 2011 Regulations Z and M

The dollar threshold for consumer credit and lease transactions exempt from Regulations Z and M, respectively, has been increased to $50,000 for 2012. This annual adjustment will take effect January 1.

June 13, 2011 Regulation Z

The fee dollar amount that triggers additional disclosures for certain home mortgage loans under the Truth in Lending Act and Home Ownership and Equity Protection Act of 1994 has been adjusted to $611 for 2012. This annual adjustment will take effect January 1.

May 23, 2011 Regulation E

Under a new proposed rule just published in the Federal Register, remittance transfer providers would have to make certain new disclosures to their customers, and those customers would have new rights to error resolution and cancellation. Public comments are due July 22.

April 19, 2011 Regulation Z

Under proposed changes to the regulation, creditors would have to determine a prospective borrower's ability to repay before making a loan and establish minimum underwriting standards. These changes implement requirements imposed by the Dodd-Frank Act. Public comments on the proposal are due July 22.

March 1, 2011 Regulations B and V

The Federal Reserve and Federal Trade Commission are proposing new model forms and notices to comply with new credit score disclosure requirements included in the Dodd-Frank Wall Street Reform and Consumer Protection Act. Public comments are due 30 days after publication in the Federal Register.

February 1, 2011 Truth In Lending

In light of its July 2011 transfer of Truth In Lending authority to the new Bureau of Consumer Financial Protection, the Federal Reserve will not finalize three pending proposed amendments to Regulation Z. The proposed amendments addressed disclosures for closed-end loans and home equity lines of credit, reverse mortgages, and rescission rights.

January 31, 2011 SAFE Act

Effective January 31, residential mortgage loan originators employed by banks, thrifts, credit unions, or the Farm Credit System must register with the Nationwide Mortgage Licensing System and Registry.