Responding to vehement industry complaints, the Federal Reserve Board has backed off a plan to force banks to disclose debt-cancellation fees in loan finance charges.

The fees fund agreements to cancel all or part of a borrower's debt in the event of death or disability. The latest proposal, made May 9, would alter Regulation Z, which implements the Truth-in-Lending Act.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.