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Home » Store » News » Fed Extends ECOA, TILA Rules to Internet Lending

Fed Extends ECOA, TILA Rules to Internet Lending

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Comments are being sought from mortgage lenders and brokers about interim final rules the Federal Reserve Board has issued, which establishes guidance for making mandatory disclosures electronically to online borrowers. The rules extend the requirements to mortgage loan transactions from the traditional, paper-based market to cyberspace. The impact of the new rule on lenders’ online originations is still uncertain, but the early returns are positive.
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