The Board also addresses concerns about some practices under other statutes, such as the Truth in Lending Act (TILA) or Truth in Savings Act (TISA). For example, the Board used its HOEPA authority to address the "flipping" of high-cost mortgage loans.
Under TILA, we recently proposed a rule prohibiting credit card issuers' from describing their rates as "fixed" unless they specify a period where the rate is not subject to change for any reason. The Board also revised its TISA rules to address concerns about overdraft protection programs.