Truth in Lending Act

Fed Revamps Truth in Lending; YSPs Spared 

Mortgage brokers nationwide breathed a collective sigh of relief on Monday, as the Federal Reserve unveiled an overhaul to Regulation Z, which sets forth Truth-in-Lending standards for lenders — for all of what was included in the final measure, it’s what wasn’t that likely drew the most interest. The final rule, approved by the Federal Reserve Board on Monday, removed hotly-contested language governing disclosures and limits on yield spread premiums.