Sec. 103. Rulemaking; model disclosure forms
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/bill/116/hr/1810/ih/section-103·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Except as provided under subsection
(b)and section 102(b)(7), the Director of the Bureau of Consumer Financial Protection may not issue regulations under this title. Not later than 180 days after the date of the enactment of this Act, the Director of the Bureau of Consumer Financial Protection, after engaging in appropriate consumer testing of such forms, shall promulgate a model disclosure form for the disclosures required under section 102(b). Any person who uses the model disclosure form promulgated pursuant to paragraph
(1)and includes accurate information required under section 102(b) shall be deemed to be in compliance with the disclosure requirements under section 102(b).