The Federal Reserve Board on Wednesday published proposed rules to establish more uniform standards for providing disclosures under consumer protection regulations M; Consumer Leasing. The proposed changes all deal with disclosure requirements and are meant to define more specifically the standard for providing disclosures.

Under most of the consumer financial services and fair lending laws administered by the Board, consumers must be provided with disclosures that are "clear and conspicuous." This standard is currently defined using similar but not identical language in the various regulations. The proposed rules provide a more specific definition for "clear and conspicuous" and include examples of how to meet the standard.

Among the proposed changes to the "Clear and Conspicuous" standard...

 "The disclosures in an advertisement in any media must be reasonably understandable. For example,] Very fine print in a television advertisement or detailed and very rapidly stated information in a radio advertisement does not meet the clear and conspicuous standard if consumers cannot see and read or hear, and cannot comprehend, the information required to be disclosed."

See more proposed changes or download the official FRB proposal here (PDF)