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ANPR |
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The Federal Reserve Board, on October 11, 2005, issued for public
comment a second advance notice of proposed rulemaking (ANPR) concerning
the open-end (revolving) credit rules of the Board's Regulation Z
(Truth in Lending), which implements the Truth in Lending Act (TILA). The procedures generally are consistent with the existing
procedures for automatic accounting-method changes; however, following
the issuance of an advance notice of proposed rulemaking on capitalizing
costs incurred as to intangible assets (NPRM REG-125638-01, 1/24/02),
some taxpayers changed to accounting methods provided in the final
regulations without IRS consent. The Commission's action approving a staff recommendation to
begin a process for an Advance Notice of Proposed Rulemaking (ANPR) for
the flammability of upholstered furniture is the one spoiler in the CPSC
record for 2003. |
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