12 C.F.R. § 213.3

General disclosure requirements

Read at: eCFRecfr.gov CornellLII GovInfogovinfo.gov CasesGoogle Scholar

(a) General requirements. A lessor shall make the disclosures required by § 213.4, as applicable. The disclosures shall be made clearly and conspicuously in writing in a form the consumer may keep, in accordance with this section. The disclosures required by this part may be provided to the lessee in electronic form, subject to compliance with the consumer consent and other applicable provisions of the Electronic Signatures in Global and National Commerce Act (E-Sign Act) (15 U.S.C. § 7001 et seq.). For an advertisement accessed by the consumer in electronic form, the disclosures required by § 213.7 may be provided to the consumer in electronic form in the advertisement, without regard to the consumer consent or other provisions of the E-Sign Act.

(1) Form of disclosures. The disclosures required by § 213.4 shall be given to the lessee together in a dated statement that identifies the lessor and the lessee; the disclosures may be made either in a separate statement that identifies the consumer lease transaction or in the contract or other document evidencing the lease. Alternatively, the disclosures required to be segregated from other information under paragraph (a)(2) of this section may be provided in a separate dated statement that identifies the lease, and the other required disclosures may be provided in the lease contract or other document evidencing the lease. In a lease of multiple items, the property description required by § 213.4(a) may be given in a separate statement that is incorporated by reference in the disclosure statement required by this paragraph.

(2) Segregation of certain disclosures. The following disclosures shall be segregated from other information and shall contain only directly related information: §§ 213.4(b) through (f), (g)(2), (h)(3), (i)(1), (j), and (m)(1). The headings, content, and format for the disclosures referred to in this paragraph (a)(2) shall be provided in a manner substantially similar to the applicable model form in appendix A of this part.

(3) Timing of disclosures. A lessor shall provide the disclosures to the lessee prior to the consummation of a consumer lease.

(4) Language of disclosures. The disclosures required by § 213.4 may be made in a language other than English provided that they are made available in English upon the lessee's request.

(b) Additional information; nonsegregated disclosures. Additional information may be provided with any disclosure not listed in paragraph (a)(2) of this section, but it shall not be stated, used, or placed so as to mislead or confuse the lessee or contradict, obscure, or detract attention from any disclosure required by this part.

(c) Multiple lessors or lessees. When a transaction involves more than one lessor, the disclosures required by this part may be made by one lessor on behalf of all the lessors. When a lease involves more than one lessee, the lessor may provide the disclosures to any lessee who is primarily liable on the lease.

(d) Use of estimates. If an amount or other item needed to comply with a required disclosure is unknown or unavailable after reasonable efforts have been made to ascertain the information, the lessor may use a reasonable estimate that is based on the best information available to the lessor, is clearly identified as an estimate, and is not used to circumvent or evade any disclosures required by this part.

(e) Effect of subsequent occurrence. If a required disclosure becomes inaccurate because of an event occurring after consummation, the inaccuracy is not a violation of this part.

(f) Minor variations. A lessor may disregard the effects of the following in making disclosures:

(1) That payments must be collected in whole cents;

(2) That dates of scheduled payments may be different because a scheduled date is not a business day;

(3) That months have different numbers of days; and

(4) That February 29 occurs in a leap year.

[Reg. M, 61 FR 52258, Oct. 7, 1996, as amended at 66 FR 17328, Mar. 30, 2001; 72 FR 63461, Nov. 9, 2007]

Notes of Decisions

Cited in 7 cases, 1998–2011 · leading case: David C. Turner, on Behalf of Himself and All Others Similarly Situated v. General Motors Acceptance Corp.

Sort: Relevance Newest Treatment

David C. Turner, on Behalf of Himself and All Others Similarly Situated v. General Motors Acceptance Corp. (1999) ca2 · cites it 4× “” 12 C.F.R. § 213.3 (a)(2). 4 With respect to disclosures not required to be segregated, “[a]dditional information may be provided .”

Stacey A. Williams, on Behalf of Themselves and All Others Similarly Situated v. General Electric Capital Auto Lease, In (1998) ca7 “See also Regulation M, 12 C.F.R. §§ 213.3 , 213.4 (1998). Second, they alleged that the early termination charges under the leases were unreasonable, in violation of 15 U.”

Hildabrand v. DiFeo Partnership, Inc. (2000) ctd · cites it 3× “” Only certain disclosures are required to be segregated pursuant to 12 C.F.R. Section 213.3(a)(2). A lease may have terms placed below the signature line and on the reverse side of the agreement without violating the CLA.”

Marine v. Macready (2011) nyed “5 *201 ii Federal Consumer Leasing Act The Macreadys next argue that the indemnification provision is unenforceable because it violates the Federal Consumer Leasing Act, specifically regulations 12 C.F.R. §§ 213.3 (a) and 213.4(d).”

McPhillips v. Gold Key Lease, Inc. (1999) almd “…form substantially similar to the model form provided in Appendix A of the regulation. 12 C.F.R. § 213.3 (a)(l)(2) (1996). See also, 61 Fed.Reg. at 52247-52249. The segregated charges fall into three basic categories: (1) the net sum due at lease signing; (2) the payment…”

Ford Motor Credit Co. v. Agrawal (2011) ohioctapp “Additionally, 12 C.F.R. §213.3 (b) requires that information stated in the lease not be misleading.”

Patterson v. Bob Wade Lincoln-Mercury, Inc. (2000) vacccharlottesv “12 C.F.R. § 213.3 (a)(1) does require that “The disclosures required by § 213.”

— 12 C.F.R. § 213.3(a)(2) — 1 case

Hildabrand v. DiFeo Partnership, Inc. (2000) ctd “” Only certain disclosures are required to be segregated pursuant to 12 C.F.R. Section 213.3(a)(2). A lease may have terms placed below the signature line and on the reverse side of the agreement without violating the CLA.”

Annotations are extracted automatically from the opinions in the Syfert caselaw corpus and ranked by authority, recency, and treatment. Dots show Syfertize treatment of the citing case itself.