[Code of Federal Regulations]

[Title 12, Volume 6]

[Revised as of January 1, 2006]

From the U.S. Government Printing Office via GPO Access

[CITE: 12CFR617.7100]



[Page 204-205]

 

                       TITLE 12--BANKS AND BANKING

 

                 CHAPTER VI--FARM CREDIT ADMINISTRATION

 

PART 617_BORROWER RIGHTS--Table of Contents

 

            Subpart B_Disclosure of Effective Interest Rates

 

Sec. 617.7100  Who must make and who is entitled to receive an effective 

interest rate disclosure?



    Source: 69 FR 16459, Mar. 30, 2004, unless otherwise noted.





    (a) A qualified lender must make the disclosures required by 

subparts B and C of this part to borrowers for all loans not subject to 

the Truth in Lending Act.

    (b) For a single loan involving more than one borrower, a qualified 

lender is required to provide only one set of disclosures to borrowers. 

All borrowers



[[Page 205]]



may designate, in writing, one person who will receive the effective 

interest rate disclosure. If the borrowers do not designate a particular 

recipient, the lender may provide the disclosure to at least one of the 

borrowers who is primarily liable for repayment of the loan.