The Federal Reserve Board’s Big Day

On Monday August 16th the Federal Reserve Board went crazy. They published a bunch of new and proposed regulations. These changes are huge and some of them are happening soon. A summary of each action is provided below. NEW PAYMENT INCREASE RISK DISCLOSURE The Fed issued an interim rule that revises the disclosure requirements for closed-end mortgage loans under Regulation Z (Truth in Lending). The interim rule implements provisions of the Mortgage Disclosure Improvement Act […]