Fed writes rule to expand consumer protection

federal reserve

The Federal Reserve on Monday proposed two new rules to enhance the protection afforded to credit transactions and consumer leases under existing consumer protection law.

The move, part of the rule-writing process now underway to turn the Dodd-Frank financial regulatory reform act into a set of laws, would see changes to regulation Z, which covers the Truth in Lending Act first implemented in 1968, and regulation M, which concerns the Consumer Leasing Act passed in 1977.

The Dodd-Frank Act, whic

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