US Federal Banking Agencies Issue Guidance on Regulation Z and Regulation X

The US Federal Financial Institutions Examination Council’s Task Force on Consumer Compliance issued interagency examination procedures for Regulation Z (Truth in Lending) and Regulation X (Real Estate Settlement Procedures Act). The procedures reflect recent amendments by the CFPB to Regulation Z and Regulation X that, among other things, revised and integrated the disclosures received in connection with certain closed-end mortgage loans. The guidance will become effective on August 1, 2015.

View the Federal Reserve Board’s press release.

View a summary of the updates to the examination procedures.