Federal regulators are seeking comment on ways to eliminate "outdated, unnecessary and unduly burdensome requirements" in the consumer lending regulations that implement the Truth in Lending Act and the Home Mortgage Disclosure Act."We encourage comments that address not only individual rules or requirements but also pertain to certain product lines," according to the request for comments. "For example, in the case of a particular loan, are any disclosure requirements under one regulation inconsistent with or duplicative of requirements under another regulation? Are there unnecessary records that must be kept?" Congress has directed the banking and thrift regulators to review their regulations to make sure they are consistent with the statutes and to reduce the regulatory burden on institutions. Besides TILA and HMDA, the regulators are reviewing the Equal Credit Opportunity Act, the Consumer Leasing Act, and the regulations dealing with unfair or deceptive acts and practices. The comment period ends April 20.

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