Regulation M
Regulation M is set up as a part of the Truth in Lending Act, which covers exactly how your consumer leasing provisions are spelled out in your process. Are they clear? Easily understood? We’ve made plenty of progress, but are you keeping up?
If you engage in lease transactions, you must comply with The Consumer Leasing Act and its implementing regulation, Regulation M. Regulation M is primarily a disclosure law that sets forth the federal disclosure requirements for leases. Even the slightest variation from these federal disclosure requirements can create expensive compliance problems for the company.
Read Regulation M here:
http://www.federalreserve.gov/boarddocs/caletters/2008/0805/08-05_attachment2.pdf
