Comments Invited by February 7 on Proposed Revisions
To All Depository Institutions and Others Concerned in the Second Federal Reserve District:
The following is from a statement issued by the Board of Governors of the Federal Reserve System:
The Federal Reserve Board has requested comment on proposed revisions to Regulation M to implement amendments of the Consumer Leasing Act.
The act requires lessors to provide uniform cost and other disclosures for car leasing and other types of consumer lease transactions.
Comment is requested by February 7, 1997.
The proposed revisions primarily implement amendments to the act contained in the Economic Growth and Regulatory Paperwork Reduction Act of 1996, which streamline the advertising disclosures for lease transactions. In addition, the proposal contains several technical amendments that would be made to the regulation.
The text of the Board's proposal, as published in the Federal Register of January 2, is available as a (pdf) file. Comments thereon should be submitted by February 7, 1997 and may be sent to the Board, as specified in the notice, or to this Bank's Compliance Examinations Department.