The Federal Reserve Board said Tuesday it would hold off on approving three mortgage-related rules in order to let the Consumer Financial Protection Bureau complete them.
The rules, which deal with provisions of the Truth in Lending Act, include two proposals involving disclosures for closed-end mortgage loans and home equity lines of credit.
The third proposal, issued in September 2010, changes the disclosures consumers must be given about their right to rescind a mortgage.
The CFPB would handle such matters under terms of the Dodd-Frank Act, but it will not assume rulemaking authority until July.
The Fed said proceeding with the proposals before the bureau is officially launched "would not be in the public interest."
