The Federal Reserve Board issued a final rule and requested public comment on a second rule under Regulation Z to revise the escrow account requirements for certain home mortgage loans. The revisions to the regulation, which implements the Truth in Lending Act (TILA), are being made pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act. The Board is soliciting comment on the proposed rule for 60 days after publication in the Federal Register, which is expected shortly. To read the entire release, please click here.
