Federal Reserve Board Revises Consumer
Handbook on Adjustable Rate Mortgages
The Board of Governors of the Federal Reserve System has issued a
revised Consumer Handbook on Adjustable Rate Mortgages (CHARM). Regulation Z, which
implements the Truth in Lending Act, requires that the handbook be provided to consumers
when they apply for an adjustable rate mortgage loan.
Creditors may continue using the earlier version of the handbook until existing
supplies are exhausted. Copies of the revised CHARM may be obtained from the Federal
Publication Services, Mail Stop 127
Board of Governors of the Federal Reserve System
Washington, DC 20551
Distribution: FDIC-Supervised Banks (Commercial and Savings)
NOTE: Paper copies of FDIC financial institutions letters may be obtained through the
FDICs Public Information Center, 801 17th Street, NW, Room100,
Washington, DC 20434 (800-276-6003 or (703) 562-2200).