Truth in Lending Act
/ˈtruːθ ɪn ˈlɛndɪŋ ækt/
Definitions
- (n.) A United States federal law enacted in 1968 designed to protect consumers by requiring clear disclosure of credit terms and costs to prevent deceptive lending practices.
Lenders must comply with the Truth in Lending Act by disclosing the annual percentage rate to borrowers.
Forms
- truth in lending act
- truth in lending acts
Related terms
See also
Commentary
The Act emphasizes transparent disclosure to aid consumer understanding and comparison of credit offers.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.