The Federal Reserve Board has delayed until Jan. 1 the effective date of changes to its automobile leasing disclosure rules.

The Regulation M revisions were originally scheduled to take effect Wednesday. However, less than half of the 22,500 new-car dealerships that arrange for automobile leases have the software necessary to produce the new consumer disclosure forms required under the rule, the Fed said.

- Bill McConnell and Olaf de Senerpont Domis

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