Welcome to the Reg Z Resource Center

There has been a great deal of regulatory activity relating to consumer-purpose loans covered by Regulation Z. This Resource Center will provide you with an overview of this activity.

Each tab represents a different area affected by the Reg Z changes. Within each tab, you’ll find:

• A brief overview of the changes,
• When the changes are effective, and
• Solutions that can help you implement those changes.

Overview of Reg Z

Regulation Z implements the federal Truth-in-Lending Act. The Truth-in-Lending Act and Regulation Z deal specifically with “consumer-purpose loans,” which are loans made to natural persons and used primarily for personal, family, or household purposes. Specifically, the Truth-in-Lending Act is designed to:

• Provide borrowers with a uniform system of disclosures for stating terms, rates, and charges
• Establishes the requirement for a lifetime cap in variable-rate loans secured by a dwelling
• Protect borrowers against inaccurate and unfair billing and credit card practices

Areas affected by the Reg Z changes:

HOEPA/HPML (Home Ownership and Equity Protection Act/Higher-Priced Mortgage Loans)
Effective October 1, 2009 | April 1, 2010 | October 1, 2010

Private Education Loans
Effective September 14, 2009 | Optional until February 14, 2010

Consumer Open-End Lending Disclosures
Effective July 1, 2010

Credit Cards
Effective February 22, 2010 | August 22, 2010

Escrow
Effective April 1, 2010 | October 1, 2010 | April 1, 2011

Mortgage Reform
Multiple Effective Dates

Consumer Lending
Multiple Effective Dates

Retail Installments
Effective date to be determined