Regulation Z - Truth in Lending
December 5, 2002
Circular No. 11478

To All Depository Institutions and Others Concerned in the Second Federal Reserve District:

In a press release, the Federal Reserve Board has requested comments by January 27, 2003, on proposed revisions to the official staff commentary to Regulation Z, which implements the Truth in Lending Act. The proposed revisions discuss the status of certain credit-card-related fees, the rules for replacing an accepted credit card with one or more cards, and the disclosure of private mortgage insurance premiums.

The Board's statement is attached.

Questions on this matter may be directed, at this Bank, to Maryann Campbell, Senior Bank Examiner, Legal and Compliance Risk Department.