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clear and conspicuous disclosure December 19, 2007

Posted by Bradley in : Uncategorized , trackback

The Fed’s proposed changes to Regulation Z, published yesterday, in the sort of coincidence of transatlantic regulatory focus that is more and more common these days (see the EU Commission’s documents on financial education and mortgage finance also published yesterday) includes provisions to encourage clear and conspicuous disclosure of mortgage terms. In 2003 the Fed proposed to require clear and conspicuous disclosures across the spectrum, including under regulation Z, but withdrew the proposal the following year.
It is worth noting here that the UK’s Financial Services Agency has been promoting the general idea of treating customers fairly across a range of financial services for some time.

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