Circular
Public Forum on TILA AND RESPA
July 24, 1997
Circular No. 10968

Forum on July 30; Comments Invited by August 15

To All Depository Institutions and Others Concerned in the Second Federal Reserve District:

The following is from a statement issued by the Board of Governors of the Federal Reserve System:

The Federal Reserve Board and the Department of Housing and Urban Development will hold a public forum to give interested parties an opportunity to present their views concerning the streamlining and reform of the Truth in Lending Act (TILA) and the Real Estate Settlement Procedures Act (RESPA).

The public forum will be held on Wednesday, July 30, from 8:15 a.m. until 4:30 p.m. in Dining Room E on the Terrace level of the Federal Reserve Board's Martin Building, located on C Street Northwest between 20th and 21st Streets.

The Economic Growth and Regulatory Paperwork Reduction Act of 1996 directs the agencies to submit legislative recommendations to the Congress on how to simplify and improve consumer disclosures under TILA and RESPA if the disclosures cannot be simplified through regulatory change. The two agencies have concluded that meaningful simplification of the disclosures can only come about through statutory revisions.

Interested parties unable to attend the forum or wishing to provide written views on the issues raised in the attached notice may submit comments by August 15. Comments may be submitted to either agency.

Printed on the following pages is the joint official notice of the Board and HUD on this matter, as published in the Federal Register of July 18 is available as a file (pdf - 31kb). Written comments may be submitted to either agency by August 15, 1997 , as specified in the notice.