consumer · federal
Truth in Lending Act (TILA)
15 U.S.C. § 1601
Requires lenders to disclose credit terms (APR, finance charges, total payments) in a standardized way. Gives consumers a 3-day right of rescission for certain home-secured loans. Violations may result in statutory damages and attorney's fees.
TILAlendingdisclosureAPRrescission