Annual Adjustment Affecting Disclosure
To All Depository Institutions and Others Concerned in the Second Federal Reserve District:
In a press release, the Federal Reserve Board has announced its annual adjustment--to $480, effective January 1, 2002--of the dollar amount that triggers additional disclosure requirements under the Truth in Lending Act for mortgage loans that bear rates or fees above a certain amount. The Board's notice is attached (pdf - 97kb).
Questions on this matter may be directed, at this Bank, to Janice A. Oser, Bank Supervision Officer, Compliance Division.