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- Title
Lenders and Consumers Continue the Search for the Truth in Lending Under the Truth in Lending Act and Regulation Z.
- Authors
Griffith, Elwin
- Abstract
The article offers information on the Truth in Lending Act (TILA) and the Regulation Z, devised to regulate the consumer credit practices in the U.S. It reports that the the TILA made it mandatory for the creditors to disclose the necessary elements of the credit transactions while the Regulation Z defines the finance charge involved in those transactions. It discusses the problems of defining essential elements of finance charge with reference to recent court cases and mentions the issues related to consumer's right of rescission in the TILA. It also discusses the TILA violations involved in lease and non-lease transactions along with the damages associated with those transactions. Also explained are the timings and forms of credit disclosures.
- Subjects
UNITED States; LOAN laws; CONSUMER credit laws; FINANCIAL disclosure; RESCISSION (Law); FINANCE charges; LEASE &; rental services; DEBTOR &; creditor; COMMERCIAL law; DECLARATION of intention; LAW
- Publication
San Diego Law Review, 2007, Vol 44, Issue 3, p611
- ISSN
0036-4037
- Publication type
Article