DECEMBER 2004

Federal Reserve Board Announces
Review of TILA Disclosures

The Federal Reserve Board has issued for public comment an advance notice of proposed rulemaking (ANPR) that announces the agency's review of the open-end (revolving) credit rules set forth in the Board's Regulation Z. The ANPR seeks comments from all interested parties on over 50 specific issues that fall into three broad categories:

• The format of open-end credit disclosures
• The content of the disclosures
• The substantive protections provided under the regulation

The full ANPR can be found at www.federalreserve.gov. Comments are due by March 28, 2005.