| For immediate release |
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The Federal Reserve Board today announced that it has revised its brochure When Your Home Is on the Line: What You Should Know about Home Equity Lines of Credit. Regulation Z, which implements the Truth in Lending Act, requires creditors to provide the brochure, or a suitable substitute, to consumers when an application form is provided for a home equity line of credit. Creditors may use the earlier version of the brochure until existing supplies are exhausted. Single as well as multiple copies of the revised brochure are available from Publications Services, Mail Stop 127, Board of Governors of the Federal Reserve System, Washington, DC 20551 (202-452-3245). The first 100 copies are free. The brochure also is available on the Board's public website at http://www.federalreserve.gov/pubs/HomeLine/. |