For immediate release

The Federal Reserve Board today issued a revised version of 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. The revised commentary is effective April 1, 1997, but compliance is optional until October 1, 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, as amended March 1997. The Board's notice is attached.

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1997 Banking and consumer regulatory policy