U.S. Code » Title 15 » Chapter CHAPTER 41— CONSUMER CREDIT PROTECTION › Subchapter SUBCHAPTER I— CONSUMER CREDIT COST DISCLOSURE › Part Part E— Consumer Leases

15 U.S.C. § 1667f

Regulations

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(a) Regulations authorized(1) In generalThe Bureau shall prescribe regulations to update and clarify the requirements and definitions applicable to lease disclosures and contracts, and any other issues specifically related to consumer leasing, to the extent that the Bureau determines such action to be necessary—(A) to carry out this part;(B) to prevent any circumvention of this part; or(C) to facilitate compliance with the requirements of the 11 So in original. Probably should be “this”. part.(2) Classifications, adjustments

Any regulations prescribed under paragraph (1) may contain classifications and differentiations, and may provide for adjustments and exceptions for any class of transactions, as the Bureau considers appropriate.

(b) Model disclosure(1) Publication

The Bureau shall establish and publish model disclosure forms to facilitate compliance with the disclosure requirements of this part and to aid the consumer in understanding the transaction to which the subject disclosure form relates.

(2) Use of automated equipment

In establishing model forms under this subsection, the Bureau shall consider the use by lessors of data processing or similar automated equipment.

(3) Use optional

A lessor may utilize a model disclosure form established by the Bureau under this subsection for purposes of compliance with this part, at the discretion of the lessor.

(4) Effect of use

Any lessor who properly uses the material aspects of any model disclosure form established by the Bureau under this subsection shall be deemed to be in compliance with the disclosure requirements to which the form relates.

(Pub. L. 90–321, title I, § 187, as added Pub. L. 104–208, div. A, title II, § 2605(b)(1), Sept. 30, 1996, 110 Stat. 3009–471; amended Pub. L. 111–203, title X, § 1100A(2), (10), July 21, 2010, 124 Stat. 2107, 2109.)Editorial NotesAmendments

2010—Pub. L. 111–203, § 1100A(2), (10), substituted “Bureau” for “Board”, “the Bureau” for “the Board”, and “The Bureau” for “The Board ” wherever appearing.

Statutory Notes and Related SubsidiariesEffective Date of 2010 Amendment

Amendment by Pub. L. 111–203 effective on the designated transfer date, see section 1100H of Pub. L. 111–203, set out as a note under section 552a of Title 5, Government Organization and Employees.

Effective Date

Section 2605(b)(2) of div. A of Pub. L. 104–208 provided that:“(A)In general.—Any regulation of the Board, or any amendment or interpretation of any regulation of the Board issued pursuant to section 187 of the Truth in Lending Act [15 U.S.C. 1667f] (as added by paragraph (1) of this subsection), shall become effective on the first October 1 that follows the date of promulgation of that regulation, amendment, or interpretation by not less than 6 months.“(B)Longer period.—The Board may, at the discretion of the Board, extend the time period referred to in subparagraph (A) in accordance with subparagraph (C), to permit lessors to adjust their disclosure forms to accommodate the requirements of section 127 [187] of the Truth in Lending Act (as added by paragraph (1) of this subsection).“(C)Shorter period.—The Board may shorten the time period referred to in subparagraph (A), if the Board makes a specific finding that such action is necessary to comply with the findings of a court or to prevent an unfair or deceptive practice.“(D)Compliance before effective date.—Any lessor may comply with any means of disclosure provided for in section 127 [187] of the Truth in Lending Act (as added by paragraph (1) of this subsection) before the effective date of such requirement.“(E)Definitions.—For purposes of this subsection, the term ‘lessor’ has the same meaning as in section 181 of the Truth in Lending Act [15 U.S.C. 1667].”

Congressional Findings and Declaration of Purposes

Section 2605(a) of div. A of Pub. L. 104–208 provided that:“(1)Findings.—The Congress finds that—“(A) competition among the various financial institutions and other firms engaged in the business of consumer leasing is greatest when there is informed use of leasing;“(B) the informed use of leasing results from an awareness of the cost of leasing by consumers; and“(C) there has been a continued trend toward leasing automobiles and other durable goods for consumer use as an alternative to installment credit sales and that leasing product advances have occurred such that lessors have been unable to provide consistent industry-wide disclosures to fully account for the competitive progress that has occurred.“(2)Purposes.—The purposes of this section are—“(A) to assure a simple, meaningful disclosure of leasing terms so that the consumer will be able to compare more readily the various leasing terms available to the consumer and avoid the uninformed use of leasing, and to protect the consumer against inaccurate and unfair leasing practices;“(B) to provide for adequate cost disclosures that reflect the marketplace without impairing competition and the development of new leasing products; and“(C) to provide the Board with the regulatory authority to assure a simplified, meaningful definition and disclosure of the terms of certain leases of personal property for personal, family, or household purposes so as to—“(i) enable the lessee to compare more readily the various lease terms available to the lessee;“(ii) enable comparison of lease terms with credit terms, as appropriate; and“(iii) assure meaningful and accurate disclosures of lease terms in advertisements.”

Notes of Decisions
Cited in 9 cases (2 in the last 5 years), 1999–2026 · leading case: David C. Turner, on Behalf of Himself & All Others Similarly Situated v. Gen. Motors Acceptance Corp., 180 F.3d 451 (2d Cir. 1999).
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David C. Turner, on Behalf of Himself & All Others Similarly Situated v. Gen. Motors Acceptance Corp., 180 F.3d 451 (2d Cir. 1999). “” 15 U.S.C. § 1667f(a)(1) & (b)(1). The FRB regulations are codified as “Regulation M.”
Cox v. Porsche Fin. Servs., Inc., 342 F. Supp. 3d 1271 (S.D. Fla. 2018). “" 15 U.S.C. § 1667f(a)(1), (b)(1). Those regulations, collectively referred to as "Regulation M," are codified at 12 C.”
Pettola v. Nissan Motor Acceptance Corp., 44 F. Supp. 2d 442 (D. Conn. 1999). “” 15 U.S.C. § 1667f(a)(l). Following the passage of the CLA on March 23, 1976, the Federal Reserve Board initially expanded the old Regulation Z to cover the CLA.”
Torres v. Banc One Leasing Corp., 226 F. Supp. 2d 1345 (N.D. Ga. 2002). “Plaintiff contends that the early termination formula violates the Act because it makes an early terminating lessee responsible for covering any shortfall in the vehicle’s actual realized value as against the projected end of lease residual value. As there is no genuine issue of…”
Kennedy v. BMW Fin. Servs., N.A., 363 F. Supp. 2d 110 (D. Conn. 2005). “In passing the CLA, Congress also delegated to the Federal Reserve Board authority “to issue regulations ‘to update and clarify the requirements and definitions applicable to lease disclosures’ ” and to publish “model disclosure forms to facilitate compliance with [the…”
Hildabrand v. DiFeo P'ship, Inc., 89 F. Supp. 2d 202 (D. Conn. 2000). “” 15 U.S.C. § 1667f(b)(4). Plaintiff does not dispute that the lease agreement section entitled “Federal Consumer Leasing Act Disclosures” contains the exact terms and language as set forth in the model closed-end lease form.”
United States v. Nicole Schuster (3rd Cir. 2026). “, 15 U.S.C. §§ 1667f(b)(1), (4) (“relates” indicates a direct connection between particular disclosure forms and a “transaction” or “disclosure requirements”); 15 U.”
United States v. Nicole Schuster (3rd Cir. 2026). “, 15 U.S.C. §§ 1667f(b)(1), (4) (“relates” indicates a direct connection between particular disclosure forms and a “transaction” or “disclosure requirements”); 15 U.”
Ysasi v. Nucentrix Broadband Networks, Inc., 205 F. Supp. 2d 683 (S.D. Tex. 2002). “15 U.S.C. § 1667f. Regulation M, 12 C.F.R.”
— 15 U.S.C. § 1667f(a)(1) — 2 cases
David C. Turner, on Behalf of Himself & All Others Similarly Situated v. Gen. Motors Acceptance Corp., 180 F.3d 451 (2d Cir. 1999). “” 15 U.S.C. § 1667f(a)(1) & (b)(1). The FRB regulations are codified as “Regulation M.”
Cox v. Porsche Fin. Servs., Inc., 342 F. Supp. 3d 1271 (S.D. Fla. 2018). “" 15 U.S.C. § 1667f(a)(1), (b)(1). Those regulations, collectively referred to as "Regulation M," are codified at 12 C.”
— 15 U.S.C. § 1667f(a)(l) — 2 cases
Pettola v. Nissan Motor Acceptance Corp., 44 F. Supp. 2d 442 (D. Conn. 1999). “” 15 U.S.C. § 1667f(a)(l). Following the passage of the CLA on March 23, 1976, the Federal Reserve Board initially expanded the old Regulation Z to cover the CLA.”
Kennedy v. BMW Fin. Servs., N.A., 363 F. Supp. 2d 110 (D. Conn. 2005). “In passing the CLA, Congress also delegated to the Federal Reserve Board authority “to issue regulations ‘to update and clarify the requirements and definitions applicable to lease disclosures’ ” and to publish “model disclosure forms to facilitate compliance with [the…”
— 15 U.S.C. § 1667f(b)(1) — 2 cases
United States v. Nicole Schuster (3rd Cir. 2026). “, 15 U.S.C. §§ 1667f(b)(1), (4) (“relates” indicates a direct connection between particular disclosure forms and a “transaction” or “disclosure requirements”); 15 U.”
United States v. Nicole Schuster (3rd Cir. 2026). “, 15 U.S.C. §§ 1667f(b)(1), (4) (“relates” indicates a direct connection between particular disclosure forms and a “transaction” or “disclosure requirements”); 15 U.”
— 15 U.S.C. § 1667f(b)(4) — 1 case
Hildabrand v. DiFeo P'ship, Inc., 89 F. Supp. 2d 202 (D. Conn. 2000). “” 15 U.S.C. § 1667f(b)(4). Plaintiff does not dispute that the lease agreement section entitled “Federal Consumer Leasing Act Disclosures” contains the exact terms and language as set forth in the model closed-end lease form.”
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