Federal Reserve System: Truth in Lending
GAO-10-572R: Apr 6, 2010
- Full Report:
GAO reviewed The Federal Reserve System's (Board) new rule on truth in lending. GAO found that (1) the final rule amends Regulation Z, which implements the Truth in Lending Act, and the staff commentary to the regulation in order to implement provisions of the Credit Card Accountability Responsibility and Disclosure Act of 2009 that are effective on February 22, 2010; and (2) the Board complied with applicable requirements in promulgating the rule.