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Attendees gained a better understanding of the open-end loan advertising requirements of the Truth in Lending Act during a webcastWednesday led by John Zasada, principal for CliftonLarsonAllen LLP.

During the webcast, Zasada discussed managing advertising compliance under Regulation Z (TILA's implementing rule), compliance integration and other information regarding open-end and closed-end loan requirements. He emphasized that TILA has specific terminology that needs to be used in disclosures to consumers.

Zasada, discussing credit card agreements, said credit unions must post a copy of the credit card agreement online and make it possible for the member to request a copy. He also touched upon other topics such as Regulation B (which implements the Equal Credit Opportunity Act), advertising discrimination and home equity lines of credit.

The webcast also addressed unfair, deceptive or abusive acts and practices, or UDAAP. Zasada warned attendees to be aware of potential UDAAP pitfalls to avoid.

NAFCU webcasts are available on-demand for one year following broadcast through the association's Online Training Center.