12 CFR 226.1 - Authority, purpose, coverage, organization, enforcement, and liability

Cite as12 CFR 226.1
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769 practice notes
  • Johnson v. Wells Fargo Home Mortgage Inc., Nos. 09–15937
    • United States
    • United States Courts of Appeals. United States Court of Appeals (9th Circuit)
    • February 15, 2011
    ...following Regulation X's guidance, we look to Regulation Z to determine if loans 55 and 56 were “business purpose loans.” Regulation Z, 12 C.F.R. § 226.1 et seq. , “is [a regulation] issued by the Board of Governors of the Federal Reserve System to implement the federal Truth in Lending Act......
  • Individual v. Bank N.A., No. CIV-F-09-0916 AWI DLB.
    • United States
    • United States District Courts. 9th Circuit. United States District Courts. 9th Circuit. Eastern District of California
    • June 1, 2010
    ...15 U.S.C. § 1602(v). “[T]he Board of Governors of the Federal Reserve System has issued Regulation Z to implement the TILA, see 12 C.F.R. § 226.1 (1991), et seq., and id. § 226.23(a) reiterates the ‘principal dwelling’ requirement of section 1635(a). An official staff interpretation of this......
  • McAnaney v. Astoria Financial Corp., No. 04-CV-1101 (JFB)(WDW).
    • United States
    • United States District Courts. 2nd Circuit. United States District Court (Eastern District of New York)
    • September 29, 2009
    ...family, or household purposes, and that is payable by agreement in more than four installments, or subject to a finance charge. 12 C.F.R. § 226.1 (2004). As such, TILA is applicable to loans that are secured by real property or a dwelling such as residential mortgage transactions and home e......
  • Ford Motor Credit Company v. Milhollin, No. 78-1487
    • United States
    • United States Supreme Court
    • February 20, 1980
    ...difference at length, because Congress has conferred special status upon official staff interpretations. See 15 U.S.C. § 1640(f); 12 CFR § 226.1(d) (1979). 10. Title 12 CFR § 226.1(d) (1979) authorizes the issuance of official staff interpretations that trigger the application of § 1640(f).......
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760 cases
  • Johnson v. Wells Fargo Home Mortgage Inc., Nos. 09–15937
    • United States
    • United States Courts of Appeals. United States Court of Appeals (9th Circuit)
    • February 15, 2011
    ...following Regulation X's guidance, we look to Regulation Z to determine if loans 55 and 56 were “business purpose loans.” Regulation Z, 12 C.F.R. § 226.1 et seq. , “is [a regulation] issued by the Board of Governors of the Federal Reserve System to implement the federal Truth in Lending Act......
  • Individual v. Bank N.A., No. CIV-F-09-0916 AWI DLB.
    • United States
    • United States District Courts. 9th Circuit. United States District Courts. 9th Circuit. Eastern District of California
    • June 1, 2010
    ...15 U.S.C. § 1602(v). “[T]he Board of Governors of the Federal Reserve System has issued Regulation Z to implement the TILA, see 12 C.F.R. § 226.1 (1991), et seq., and id. § 226.23(a) reiterates the ‘principal dwelling’ requirement of section 1635(a). An official staff interpretation of this......
  • McAnaney v. Astoria Financial Corp., No. 04-CV-1101 (JFB)(WDW).
    • United States
    • United States District Courts. 2nd Circuit. United States District Court (Eastern District of New York)
    • September 29, 2009
    ...family, or household purposes, and that is payable by agreement in more than four installments, or subject to a finance charge. 12 C.F.R. § 226.1 (2004). As such, TILA is applicable to loans that are secured by real property or a dwelling such as residential mortgage transactions and home e......
  • Ford Motor Credit Company v. Milhollin, No. 78-1487
    • United States
    • United States Supreme Court
    • February 20, 1980
    ...difference at length, because Congress has conferred special status upon official staff interpretations. See 15 U.S.C. § 1640(f); 12 CFR § 226.1(d) (1979). 10. Title 12 CFR § 226.1(d) (1979) authorizes the issuance of official staff interpretations that trigger the application of § 1640(f).......
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4 firm's commentaries
  • Eleventh Circuit Clarifies Meaning of Consummation of Transaction in Dismissing Borrowers’ TILA Right of Rescission Claim
    • United States
    • JD Supra United States
    • August 22, 2017
    ...under TILA and provides that “[c]onsummation means the time that a consumer becomes contractually obligated on a credit transaction.” 12 C.F.R. § 226.1(a); 12 C.F.R. § “Under TILA, a debtor may rescind a mortgage ‘until midnight of the third business day following the consummation of the tr......
  • CFPB Proposes New Rules Regulating Prepaid Financial Products
    • United States
    • Mondaq United States
    • January 9, 2015
    ...E, 12 C.F.R. §§ 205.1 et seq. - which implements the Electronic Fund Transfer Act, 15 U.S.C. §§ 1693 et seq. - and Regulation Z, 12 C.F.R. §§ 226.1 et seq. - which implements the Truth in Lending Act, 15 U.S.C. §§ 1601 et seq. - to create comprehensive consumer protections for prepaid finan......
  • California Bill Seeks To Impose Disclosure Requirements On Commercial Lenders
    • United States
    • JD Supra United States
    • February 27, 2018
    ...financing calculated according to the provisions of federal Truth In Lending Act (15 U.S.C. Sec. 1601 et seq.) and Regulation Z (12 C.F.R. 226.1 et seq.). In the case of a cash advance, the annual percentage rate must be calculated based on the daily, weekly or monthly delivery of receivabl......
  • Countdown to TRID Implementation: Blog: Consumer Financial Protection Bureau
    • United States
    • JD Supra United States
    • September 28, 2015
    ...is going to be ready to comply fully with TRID when October 3rd arrives? That will be the grist for a post October 3rdblog post. 1 12 C.F.R. § 226.1 2 Id. 3 12 U.S.C.A. § 2601 4 Id. 5 http://www.hud.gov/offices/hsg/ramh/res/Settlement-Booklet-January-6-REVISED.pdf 6 http://www.consumerfinan......
3 books & journal articles
  • Credit Reform and the States: The Vital Role of Attorneys General After Dodd-Frank
    • United States
    • Iowa Law Review Nbr. 99-1, November 2013
    • November 1, 2013
    ...Presumably the states cannot enforce these rules because the CFPB lacks rulemaking power. 165. Truth in Lending (Regulation Z), 12 C.F.R. §§ 226.1–.59 (2013). 166 . Id. § 226.1(b). 167 . Id. §§ 226.5–.16. 168 . Id. §§ 226.51–.59. 169 . Id. §§ 226.17–.24. 2013] CREDIT REFORM AND THE STATES 1......
  • Claims Decided by the Courts and Statutes
    • United States
    • Lender Force-Placed Insurance Practices
    • January 1, 2015
    ...penalties. Id. § 1611. 114. See id. § 1640(a)(1). 115. Id. § 1640(a)(2(A)(iv). 116. Id. § 1640(a)(2)(B). 117. Id. § 1640(a)(3). 118. 12 C.F.R. §§ 226.1 and following. See generally Comment, TILA: The Textualist-Intentionalist Litmus Act?, 44 Seton Hall L. Rev. 207 119. 12 C.F.R. §§ 1026.1 a......
  • Table of Statutes, Laws, and Rules
    • United States
    • Lender Force-Placed Insurance Practices
    • January 1, 2015
    ...R. Civ. P. 26 3.1, 7.13 Fed. R. Civ. P. 30(b)(6) 2.1, 2.4, 3.4, 3.11 Code of Federal Regulations Code Section 12 C.F.R. § 34.4 5.5, 6.5 12 C.F.R. § 226.1 and following 5.5 12 C.F.R. § 226.4 5.5 12 C.F.R. § 226.5 5.5 12 C.F.R. § 226.36 5.5 12 C.F.R. Pt. 1024, Appendix MS-3 4.2, 5.5 12 C.F.R.......

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