Developments in Securities Regulation, Corporate Governance, Capital Markets, M&A and Other Topics of Interest. MORE

The Federal Reserve Sytsem has issued a proposed rule under Regulation Z issued pursuant to the Truth in Lending Act.  The proposed rule would implement Section 1461 of the recently enacted Dodd-Frank Wall Street Reform and Consumer Protection Act.  Section 1461 amends TILA to provide a separate, higher threshold for determining coverage of the Board’s escrow requirement applicable to higher-priced mortgage loans, for loans that exceed the maximum principal balance eligible for sale to Freddie Mac.