Recently, the Board of Governors of the Federal Reserve System (Board) issued a proposed rule to amend Regulation Z. Under the Home Ownership and Equity Protection Act (HOEPA), which amended the Truth in Lending Act, the Board is authorized to prohibit unfair or deceptive acts and practices in connection with mortgage lending. Accordingly, the proposed amendments would prohibit certain unfair, abusive or deceptive practices in connection with closed-end mortgage loans. The proposal is intended to focus particularly on abuses in the subprime mortgage market, while generally excluding the prime market.
Already a member? Log in
Members Get More |
This page contains member-only content.Membership is open to all federally insured credit unions in the United States, both federally and state-chartered. Members enjoy:
|
If you are already logged in and believe you should have access to member-only content, please contact us for assistance at info@americascreditunons.org.