For immediate release

The Federal Reserve Board today requested comment on a second proposal to revise the official staff commentary to Regulation M, which implements the Consumer Leasing Act. The act requires lessors to provide uniform cost and other disclosures about consumer lease transactions. Comment is requested by March 13, 1997. Regulation M was revised in September 1996 under the Board's Regulatory Planning and Review Program, which calls for the periodic review of Board regulations. The commentary applies and interprets the requirements of Regulation M. The first proposal to revise the commentary was published in September 1995. This second proposal includes material that was published for comment in September 1995, incorporates guidance on the final rule issued in September 1996, and addresses certain questions raised following public review of the final rule. The Board's notice is attached.

Summary only | Summary and proposed rule (141 KB PDF)

1997 Banking and consumer regulatory policy