disclosure statement

Disclosure Statement

1. A document given to a potential borrower by a lender stating all the terms of the loan. This includes the interest rate, the length of the loan, and any applicable fees. Lenders are required to provide disclosure statements. See also: Truth in Lending Act.

2. A document given to a potential IRA account holder stating all the terms of the IRA. This includes the rules, penalties, and applicable fees associated with the IRA. IRA providers are required to provide disclosure statements and give the account holder seven days to opt out of the account with no penalties.

disclosure statement

(1) Also called the Reg-Z box, information required by Regulation Z of the federal Truth in Lending Act.(2) Any other federally required or state-required document designed to inform consumers of rights,responsibilities,or property defects.

References in periodicals archive ?
In connection with approving the Disclosure Statement, the Bankruptcy Court established a voting deadline of October 14, 2011 for creditors that are eligible to vote on the Plan and scheduled a hearing regarding confirmation of the Plan for October 31, 2011.
6707A penalty for failing to (1) attach Form 8886 to an original or amended return or (2) provide a copy of the disclosure statement to the Office of Tax Shelter Analysis (OTSA), if required.
The working group discussed the possibility of conducting studies to learn more about small-face-amount policies, and consumer advocates argued that the disclosure statement didn't go far enough to protect policyholders.
Bankruptcy Court of the 2d District of Manhattan approved the disclosure statement and set a date of March 16, 1998, for a hearing on the confirmation of the Chapter 11 plan.
Now, in disclosure statements released to the public in October 1991, lenders for the first time have reported on all home loan applications they received and their disposition, plus the race or national origin, gender, and annual income of the applicants.
The approval of our Disclosure Statement represents an important step in our realignment and restructuring process," said M.
The Plan and Disclosure Statement are premised upon consummating an amended and restated global settlement agreement (the "Settlement") among WMI, the Federal Deposit Insurance Corporation (the "FDIC") and JPMorgan Chase Bank, N.
Example 1: T was required to attach a Form 8886, Reportable Transaction Disclosure Statement, to its original return for 2005 and to send a copy of it to the OTSA when it filed its original return.
They planned to accept ideas until April 20, and said they would have the proposed disclosure statement ready in time for the NAIC's Summer Meeting in June.
In addition, the disclosure statement may have to be submitted before the contract is awarded.
com/research/9e2f57/what_bankruptcy_la) has announced the addition of the "What Bankruptcy Lawyers Need to Know About New Requirements for Drafting Disclosure Statements in 2011 " audioconference to their offering.
The terms are reflected in the Amended Plan and Disclosure Statement filed with the Bankruptcy Court.