FEDERAL RESERVE SYSTEM 12 CFR Part 213 [Regulation M; Docket No. R-1028] Consumer Leasing AGENCY: Board of Governors of the Federal Reserve System. ACTION: Final rule; official staff commentary. SUMMARY: The Board is publishing revisions to the official staff commentary to Regulation M, which implements the Consumer Leasing Act. The commentary applies and interprets the requirements of the regulation. The update provides guidance on disclosures for lease renegotiations and extensions, official fees and taxes, multiple-item leases, and advertisements. DATES: This rule is effective March 31, 1999. Compliance is optional until March 31, 2000. FOR FURTHER INFORMATION CONTACT: Kyung Cho-Miller or Obrea Poindexter, Staff Attorneys, Division of Consumer and Community Affairs, Board of Governors of the Federal Reserve System, at (202) 452-3667. For users of Telecommunications Device for the Deaf (TDD) only, Diane Jenkins at (202) 452-3544.

Summary and final rule (24 KB PDF)

1999 Banking and consumer regulatory policy