There were many issues and developments affecting the Truth in Lending Act ("TILA"), the Home Ownership and Equity Protection Act ("HOEPA"), and Federal Reserve Board ("FRB") Regulation AA and Regulation Z. The FRB was busy making some of the most extensive revisions to its mortgage-related rules that it has made in recent years (principally under its HOEPA authority to ban unfair or deceptive practices in the residential mortgage market), prohibiting certain credit card pricing practices as "unfair," and announcing a new dollar amount trigger for HOEPA's high cost points and fees threshold. Courts were also active addressing the intricacies of TILA, HOEPA, and Regulation Z, including issues regarding the right to rescind and who is a creditor under TILA.
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