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FRS RIN: 7100-AD59 Publication ID: Spring 2011 
Title: ●Regulation Z--Truth in Lending (Docket No. R-1399) 
Abstract: The Federal Reserve Board (Board) published in the Federal Register on December 16, 2010, proposed regulations to implement a provision of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act), which amends the Truth in Lending Act (TILA). TILA requires creditors to disclose key terms of consumer loans and prohibits creditors from engaging in certain practices with respect to those loans. Currently, consumer loans of more that $25,000 are generally exempt from TILA. However, private education loans and loans secured by real property (such as mortgages) are subject to TILA regardless of the amount of the loan. Effective July 21, 2011, the Dodd-Frank Act requires that the protections of the Truth in Lending Act (TILA) apply to consumer credit transactions up to $50,000, compared with $25,000 currently. In addition, the Dodd-Frank Act requires this amount be adjusted annually to reflect any increase in the Consumer Price Index. The proposed rule would amend Regulation Z, which implements TILA, for consistency with the amendments made by the Dodd-Frank Act. In addition, because the Dodd-Frank Act makes similar amendments to the exemption threshold in the Consumer Leasing Act, the Board also published in the Federal Register on December 16, 2010, proposed amendments to Regulation M, which implements the Consumer Leasing Act. The comment period on the proposed rule closed on February 1, 2011. A final rule will be issued shortly thereafter. 
Agency: Federal Reserve System(FRS)  Priority: Substantive, Nonsignificant 
RIN Status: First time published in the Unified Agenda Agenda Stage of Rulemaking: Final Rule Stage 
Major: No  Unfunded Mandates: No 
CFR Citation: 12 CFR 226.3   
Legal Authority: 15 USC 1604   
Legal Deadline:
Action Source Description Date
Final  Statutory    07/21/2011 

Overall Description of Deadline: July 21, 2011 as required by Dodd-Frank

Timetable:
Action Date FR Cite
Board Requested Comment  12/16/2010  75 FR 78634   
Board Expects Further Action  06/00/2011    
Regulatory Flexibility Analysis Required: Undetermined  Government Levels Affected: None 
Small Entities Affected: Businesses  Federalism: No 
Included in the Regulatory Plan: No 
RIN Data Printed in the FR: No 
Agency Contact:
Stephen Shin
Attorney
Federal Reserve System
Division of Consumer and Community Affairs,
Phone:202 452-3667