Official
Staff Interpretations
Officials in the Board’s Division of Consumer and Community
Affairs are authorized to issue official staff interpretations of
this regulation. These interpretations provide the protection afforded
under section 130(f) of the act. Except in unusual circumstances,
such interpretations will not be issued separately but will be incorporated
in an official commentary to the regulation, which will be amended
periodically.
Requests for
Issuance of Official Staff Interpretations
A request for an official staff
interpretation shall be in writing and addressed to the Director,
Division of Consumer and Community Affairs, Board of Governors of
the Federal Reserve System, Washington, D.C. 20551. The request shall
contain a complete statement of all relevant facts concerning the
issue, including copies of all pertinent documents.
Scope of Interpretations
No staff interpretations will be
issued approving creditors’ forms, statements, or calculation tools or methods.
This restriction does not apply to forms, statements, tools, or methods
whose use is required or sanctioned by a government agency.
