To All Depository Institutions and Others Concerned
in the Second Federal Reserve District:
The Federal Reserve Board has published its annual adjustment of the dollar amount that triggers additional disclosure requirements under the Truth in Lending Act for home mortgage loans that bear rates or fees above a certain amount.
The dollar amount of the fee-based trigger has been adjusted to $547 for 2007 based on the annual percentage change reflected in the Consumer Price Index that was in effect on June 1, 2006.
The adjustment is effective January 1, 2007.
See the Press Release and Board of Governors’ notice for full details.