Truth in Lending Act

The video tutorial explains the nature of credit transactions and the application of Regulation Z under the Truth in Lending Act. It covers the scope of Regulation Z, which applies to various financing scenarios beyond traditional banking. The tutorial details the disclosure requirements for credit transactions, including financing charges and annual percentage rates. It also discusses enforcement mechanisms and how companies can avoid liability by correcting issues within 60 days. Additionally, the video highlights consumer protections, such as the right to rescind a transaction within three days and additional safeguards for secured transactions involving homes.

What are the repercussions for a company that violates the Truth in Lending Act?

What rights do consumers have regarding rescinding a transaction under the Truth in Lending Act?