Action Urged To Forestall ‘Dramatic, Negative’ Effect

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ATLANTA – One company is urging credit unions to provide comment to the Federal Reserve and Congress over proposed rules regarding the disclosures for credit insurance, debt cancellation and other products in the Regulation Z, Truth in Lending Act disclosures.

“As proposed, the Reg Z requirements would have a dramatic, negative impact on credit insurance and debt cancellation sales and if enacted, would threaten the ability of credit unions to provide valuable coverage to their members and go beyond what the Federal Reserve was created to do,” states Todd Schubert, CRI’s Business Unit Leader.

The comment period ends Dec. 23.

 

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