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Federal Reserve Proposes New Regulations in Response to Subprime Issues

December 21, 2007

By Barry G. Sher, Jodi A. Kleinick and Kevin P. Broughel

In an effort to address fallout from the subprime mortgage meltdown and protect consumers from fraud and deception in the mortgage market, the Federal Reserve this week proposed and asked for public comment on rule changes to Regulation Z, which implements the Truth in Lending Act and Home Ownership and Equity Protection Act. This Client Alert discusses the scope of the proposal and considers some of its potential consequences.

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