Fed toughens rules on consumer protection
New rules to protect borrowers from unfair, abusive, and deceptive lending practices by loan originators were unveiled by the Federal Reserve on Monday.
Under the amendments made to Regulation Z, which implements the Truth in Lending Act designed to protect US borrowers, loan originators may not receive compensation related to the interest rate charged to customers and will not receive indirect benefits from the lender. The rules intend to alter the incentives of loan originators away from the
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@centralbanking.com
More on Regulation
Barr defends easing of Basel III endgame proposal
Fed’s top regulator says he will stay and finish the package, is comfortable with capital impact
Bank of England to review UK clearing rules
Broader collateral set and greater margin transparency could be adopted from Emir 3.0, but not active accounts requirement
Curaçao and Sint Maarten announces Ennia restructure
Central bank to move insurer’s liabilities into new entity along with operational assets
Indian central bank postpones IM go-live date
RBI communicated delay to initial margin rules one day before planned November 8 implementation
What Goldman’s appeal victory means for Fed stress tests
Decision could embolden more banks to appeal, analysts say. But others believe result is one-off
Basel III endgame adoption more than doubles
Annual monitoring exercise shows progress, but US and some emerging markets lag behind
Emerging markets at greater risk from stablecoins, FSB warns
Limited regulation, resourcing constraints and FX exposures create hazards for poorer countries
EU central banks don’t want to ‘over-regulate’ AI
Lack of international co-operation may spur regulatory arbitrage, panellists warn