Federal Reserve Release, Press Release; image with eagle logo links to home page
Release Date: November 3, 1999


For immediate release

The Federal Reserve Board today published its annual adjustment of the dollar amount that triggers additional disclosure requirements under the Truth in Lending Act for mortgage loans that bear fees above a certain amount.

The Board has adjusted the dollar amount from $441 for 1999 to $451 for 2000 based on the annual percentage change reflected in the Consumer Price Index that was in effect on June 1, 1999. The adjustment is effective January 1, 2000.

The Home Ownership and Equity Protection Act of 1994 bars credit terms such as balloon payments and requires additional disclosures when total points and fees payable by the consumer exceed $400 (to be adjusted annually) or 8 percent of the total loan amount, whichever is larger.

The Board's notice is attached.

Notice (10 KB PDF)

1999 Banking and consumer regulatory policy


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Last update: November 3, 1999