Truth-in-Lending Manual: Text and Forms

Author James Pannabecker offers clear analysis of the law, practical guidance for complying with regulations, and assistance in drafting forms and developing procedures that comply with truth-in-lending requirements. Addressing such issues as Dodd-Frank and implications of the CFPB, this must-have resource includes more than 100 sample forms and disclosures.

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The Dodd-Frank Wall Street Reform and Consumer Protection Act means more risk for you. To a large extent, the early stages of legal and regulatory compliance will be based on current laws and regulations. Nonetheless, you can expect closer regulatory scrutiny of your current compliance, as well as your compliance to changing requirements from the Consumer Financial Protection Bureau.

For the information and guidance you need to navigate in this shifting regulatory environment, look no further than the newly-revised Fourth Edition Truth-in-Lending Manual—your comprehensive, practical guide to Truth-In-Lending, Regulation Z, and Regulation M compliance. This three-volume reference offers clear analysis of the law, practical guidance for complying with regulations, and assistance in drafting forms and developing procedures that comply with truth-in-lending requirements.

The Manual brings you thorough coverage of the massive number of changes affecting credit cards and other open credit, including:

•  New format requirements for credit and charge card promotional forms.
•  New rules for cost disclosures at account opening.
•  Revisions that require itemizing interest charges for different types of transactions on monthly statements.
•  Expanded circumstances under which consumers must receive a written notice of changes in the terms applicable to an account.
•  New provisions that tighten the rules for what you must disclose in your advertising.
•  Additional provisions that affect how you handle mailed payments and advances that are separately underwritten.
•  Limitations on applying rate increases to credit card balances (with many exceptions, of course).
•  Limitations on increasing rates and charges during the first year of a credit card account.
•  requirement that card issuers consider a consumers ability to pay.
•  Limitations on marketing open-end credit to college students and disclosure of student marketing agreements between schools and lenders.
•  Limitations on offering credit cards to consumers under age 21.
•  Restrictions on over-the-limit fees on credit cards.
•  Rules on how to apply payments made on credit cards.
•  Procedures to enable administrators of decedents estates to resolve outstanding credit card debt.
•  On-line disclosure of credit card agreements.
•  Limitations on fee-harvester (subprime) credit cards.
•  Prohibition of double-cycle billing.
•  Prohibition of fees for using methods of payment on credit card debt.
•  Including minimum payment warnings on credit card statements.

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Editable Documents

The publication subscription includes downloadable files delivered through the LexisNexis® Store download center. The downloadable files include the following features:

•  The entire publication is provided in a Folio infobase, offering a robust search engine and the ability to jump from one search match to the next through the entire publication. The Table of Contents for the entire publication can be viewed side-by-side with the text.

•  Editable Microsoft® Word files are included in the Folio infobase and can be downloaded and customized. The Word files are fully formatted and will be updated to reflect changes made in corresponding text sections of the publication. Word files are provided for a variety of documents, including exhibits, checklists, sample policies, sample procedures, sample audits, questionnaires, and model forms.

This publication includes editable Word files for the following documents:

No.              Title
2-1.              Implementation Checklist for January 2010 Regulation Z Revisions (Effective July 1, 2010 except as otherwise indicated)
5-2               Exhibit 5-2 TILA-RESPA Disclosure Integration Rule Implementation Checklists
5-17             Form H-16 Mortgage Sample
5-42             Closed-End High-Cost Mortgage Loan Worksheet
11-1             Sample Notice No. 1
11-2             Sample Notice No. 2
11-3             Policy for Corrective Action on Disclosure Errors

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Table of contents

Table of Contents


PART I - General Principles

Chapter 1 The Amended Truth-in-Lending Act, as Implemented by Regulation Z

Chapter 2 General Principles of Consumer Credit

PART II - Open-End Credit

Chapter 3 Open-End Credit and Credit Card Plan Disclosures

Chapter 4 Rules Applicable to Open-End Credit and Credit Card Transactions


PART III - Closed-End Credit

Chapter 5 Closed-End Consumer Credit Disclosures

Chapter 6 Additional Requirements Imposed in Closed-End Credit Transactions

PART IV - Enforcement and Liability

Chapter 7 Administrative Enforcement

Chapter 8 Duties and Expanded Powers of the Federal Trade Commission and Consumer Financial Protection Bureau

Chapter 9 Criminal Penalties

Chapter 10 Civil Penalties and Litigation

Chapter 11 Means of Avoiding Civil Liability Otherwise Imposed on Creditors

PART V - Consumer Leasing

Chapter 12 Purpose and Scope of Consumer Leasing Act

Chapter 13 Consumer Leasing Disclosure Requirements

Chapter 14 Rules Applicable to Consumer Leasing Transactions, Advertising


PART VI Appendices- Laws, Regulations and Interpretations

Appendix A Amended Truth-in-Lending Act

Appendix B Regulation Z

Appendix C Regulation M

Appendix D CFPB Consumer Laws and Regulations TILA

Appendix E Federal Trade Commission: How to Advertise Consumer Credit

Appendix F Federal Trade Commission Advertising Consumer Leases

Appendix G Federal Credit Practices Rules

Appendix H Consumer Handbook on Adjustable Rate Mortgages (CHARM Booklet)

Appendix I FFIEC Truth-in-Lending Act Notice and Request for Comment

Table of Cases

Table of Statutes