Title 12 published on 2012-01-01
The following are only the Rules published in the Federal Register
after the published date of Title 12.
For a complete list of all Rules, Proposed Rules, and Notices view the Rulemaking tab.
2013-02-13; vol. 78 # 30 - Wednesday, February 13, 2013
78 FR 10368 - Appraisals for Higher-Priced Mortgage Loans
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DEPARTMENT OF THE TREASURY, FEDERAL RESERVE SYSTEM, NATIONAL CREDIT UNION ADMINISTRATION, FEDERAL HOUSING FINANCE AGENCY, BUREAU OF CONSUMER FINANCIAL PROTECTION, Office of the Comptroller of the Currency
Final rule; official staff commentary.
This final rule is effective on January 18, 2014.
12 CFR Parts 34 and 164
The Board, Bureau, FDIC, FHFA, NCUA, and OCC (collectively, the Agencies) are issuing a final rule to amend Regulation Z, which implements the Truth in Lending Act (TILA), and the official interpretation to the regulation. The revisions to Regulation Z implement a new provision requiring appraisals for “higher-risk mortgages” that was added to TILA by the Dodd-Frank Wall Street Reform and Consumer Protection Act (the Dodd-Frank Act or Act). For mortgages with an annual percentage rate that exceeds the average prime offer rate by a specified percentage, the final rule requires creditors to obtain an appraisal or appraisals meeting certain specified standards, provide applicants with a notification regarding the use of the appraisals, and give applicants a copy of the written appraisals used.
2012-11-21; vol. 77 # 225 - Wednesday, November 21, 2012
77 FR 69736 - Truth in Lending (Regulation Z)
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FEDERAL RESERVE SYSTEM, BUREAU OF CONSUMER FINANCIAL PROTECTION
Final rules, official interpretations and commentary.
This final rule is effective January 1, 2013.
12 CFR Part 226
The Board and the Bureau are publishing final rules amending the official interpretations and commentary for the agencies' regulations that implement the Truth in Lending Act (TILA). Effective July 21, 2011, the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) amended TILA by increasing the threshold for exempt consumer credit transactions from $25,000 to $50,000 and requiring that, on or after December 31, 2011, this threshold be adjusted annually by any annual percentage increase in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W). Accordingly, the exemption threshold was adjusted to $51,800 effective January 1, 2012. Based on the annual percentage increase in the CPI-W as of June 1, 2012, the Board and the Bureau are adjusting the exemption threshold from $51,800 to $53,000, effective January 1, 2013. Because the Dodd-Frank Act also requires similar adjustments in the Consumer Leasing Act's threshold for exempt consumer leases, the Board and the Bureau are making similar amendments to each of their respective regulations implementing the Consumer Leasing Act elsewhere in the Federal Register .