OCC 2000-13
Subject: Regulation Z Truth In Lending
Description:  Final Rule Revision to Official Staff 
Commentary
Date: April 21, 2000


TO:	Chief Executive Officers and Compliance Officers of All 
National Banks, Department and Division Heads, and All 
Examining Personnel 



The Board of Governors of the Federal Reserve System has 
issued a final rule revising the Official Staff Commentary 
to Regulation Z, Truth in Lending (12 CFR 226).  The final 
rule addresses short-term cash advances commonly called 
“payday loans” and clarifies that these loans, and similar 
transactions where there is an agreement to defer payment of 
debt, constitutes credit for purposes of the Truth in 
Lending Act.  

Questions about the final rule and Regulation Z may be 
directed to your supervisory office or the Community and 
Consumer Policy Division at (202) 874-4428.




                                                                              
Ralph E. Sharpe
Deputy Comptroller
Community and Consumer Policy


Attachment--65 FR 17129