The Truth in Lending Act (TILA) of 1968 is a United States federal law designed to promote the informed use of consumer credit by requiring standardized disclosures about credit cost and terms. TILA grants consumers a rescission right for certain home-secured loans, regulates several credit card practices, and sets procedures for resolving billing disputes.
The Truth in Lending Act (TILA) of 1968 is a United States federal law designed to promote the informed use of consumer credit by requiring standardized disclosures about credit cost and terms. TILA grants consumers a rescission right for certain home-secured loans, regulates several credit card practices, and sets procedures for resolving billing disputes.
Source: Wikipedia "Truth in Lending Act" · CC BY-SA 4.0
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