09-EA-05: FRB: Truth in Lending Act (TILA)

Congress enacted TILA to regulate certain credit practices and promote the informed use of consumer credit by requiring uniform disclosures about its costs and terms. Under TILA section 128, creditors must provide TILA disclosures to consumers in writing before consummation of certain closed-end credit transactions. Exemptions are provided for a limited number of transactions.

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