FTC Calls for More Testing on Consumer Disclosure Rule
October 15, 2012
The Federal Trade Commission has called on the bureau to do more consumer testing before it comes out with a finalized version of its streamlined, consolidated Truth in Lending Act and Real Estate Settlement Procedures Act consumer mortgage disclosure rulemaking. The FTCs Bureau of Consumer Protection, Bureau of Economics and Office of Policy Planning submitted a comment letter to the CFPB stating that the proposed disclosures will likely improve the information that consumers receive under current federal regulations because they are generally simpler and less...