Program Overview
For the past few years massive changes to both Regulation Z (Truth in Lending) and Regulation X (Real Estate Settlement Procedures Act) have been unfolding. This program reviews the changes that have been completed, the changes that are presently unfolding and the changes yet to come. This content-rich program provides essential information needed by everyone involved with consumer lending. This program contains core knowledge needed by all lenders to implement the new and revised rules. The 200-page manual is a great desktop reference.

Open-end credit
Final regulations * New account-opening disclosures * Revised periodic statement disclosures * New change-in-terms notices * New credit and charge card application & solicitation disclosures * Revised advertising provisions * Final Credit CARD Act (as amended by the CCTCA) rules * That ensure that periodic statements are mailed or delivered at least 21 days prior to the payment due date and the date on which any grace period expires * Governing notices of changed terms

Proposed revisions to:
Protect consumers from unexpected increases in credit card interest rates by generally prohibiting increases in a rate during the first year after an account is opened and increases in a rate that applies to an existing credit card balance * Prohibit creditors from issuing a credit card to a consumer who is under the age of 21 unless the consumer has the ability to make the required payments or obtains the signature of a parent or other cosigner with the ability to do so * Require creditors to obtain a consumer`s consent before charging fees for transactions that exceed the credit limit * Limit the high fees associated with subprime credit cards * Ban creditors from using the "two-cycle" billing method to impose interest charges * Prohibit creditors from allocating payments in ways that maximize interest charges* Proposed Home Equity Lines of Credit rules * New disclosures at application * New disclosures at account opening * Revised periodic statements * New change-in-terms notices