Circular
Truth In Lending
May 28, 1999
Circular No. 11157

Revised Consumer Handbook on Adjustable Rate Mortgages

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

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

The Federal Reserve Board has revised its brochure entitled Consumer Handbook on Adjustable Rate Mortgages.

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 or before the consumer pays a nonrefundable fee.

Creditors may use the earlier version of the brochure until existing supplies are exhausted.

Copies of the revised brochure are available from the Board: Publications Services, Mail Stop 127, Board of Governors of the Federal Reserve System, Washington, D.C. 20551. [The first 100 copies ordered each year are free; additional copies are $25 per 100, prepaid.] The brochure is available on the Board's public website as a PDF file.