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- Special Report: Credit CARD Act Round 2 Changes
Easily Navigate the Fed Changes Effective Feb. 22, 2010
This Special Report is included in the Truth-in-Lending Manual, but is available to you now to help you navigate through the changes announced by the Federal Reserve Board on January 12, 2010. These changes were effective February 22, 2010.
A chart at the end of the Special Report highlights the applicable effective dates.
In effect, the Board withdrew its December 2008/January 2009 open-end (not home-secured) credit revision of Regulation Z, made changes required by the Credit CARD Act of 2009, and reissued the package as a new revision of the open-end (not home-secured) provisions of Regulation Z. Credit CARD Act Round 3 changes, effective August 22, 2010, and home-secured lending changes are still to come.
About James H. Pannabecker
James H. Pannabecker writes from Natural Bridge Station, Virginia, focusing on banking law and regulatory compliance. He was formerly a senior vice president and general counsel of Citicorp Mortgage, Inc., where he managed the provision of legal services for the nationwide origination of mortgage loans through Citicorp’s affiliated first mortgage lenders. Before joining Citicorp, Mr. Pannabecker served as in-house counsel to Maryland National Bank; First Virginia Banks, Inc.; and First American Mortgage. He graduated from the University of North Carolina School of Law in 1978 and has been admitted to practice law in the District of Columbia, Georgia, Maryland, Missouri, North Carolina, and Virginia. See all works by Mr. Pannabecker
