The public, industry, and the government all benefit from regulations that are easier to find, read, and understand. That is why last year we launched our eRegulations tool which combines important information that can often be difficult to navigate or is spread throughout a regulation, often separated by dozens or even hundreds of pages. Ideally, using eRegulations will lead to better compliance and improved accessibility.
Now, as part of the eRegulations tool, we’re launching an intuitive, easier-to-navigate electronic format of Regulation Z, which implements the Truth in Lending Act. Regulation Z is the flagship federal regulation protecting consumers when it comes to credit products. Regulation Z can be complex to understand for people who have not specialized in it. And it has changed a lot recently with the addition of new rights and disclosures for mortgages.
By adding Regulation Z, one of the most complex and heavily-consulted consumer financial regulations, we can help mortgage stakeholders better understand and comply with the recent amendments implementing the Ability to Repay rules, the new federal mortgage integrated disclosures, and other changes. Stakeholders who deal with credit cards, auto loans, student loans, and other consumer credit will also benefit, because Regulation Z covers virtually all forms of consumer credit.
In order to help stakeholders navigate changes to the regulation, eRegulations displays the currently effective version of Regulation Z, previous versions beginning December 30, 2011, and any planned versions that are not yet effective (but are published in the Federal Register). In addition, a new feature allows you to compare two versions of a regulation, and see the differences in your browser. For example, check out the differences in §1026.32 between 2011 and the current regulation.
eRegulations going forward
As we continue our work to make regulations easier to use, we need to hear from you about what works best and how this tool is valuable to you.
How can you help?
First, if you haven’t seen eRegulations, check it out.
Finally, share it. Help us get the eRegulations tool into the hands of others who can use it and benefit from it. This tool is open source, so we’d love for other agencies, developers, or groups to use it and adapt it.
A note from our lawyers
Please note, eRegulations is not an official legal edition of the Code of Federal Regulations or the Federal Register, and it does not replace the official versions of those publications.