Regulation Z refers to
The Truth in lending act and APR
Regulation Z is a federal regulation that is part of the Truth in Lending Act (TILA) of 1968. It is officially known as the “Truth in Lending Act Regulation Z” and it governs how lenders must disclose certain information to consumers when making loans or extending credit. Regulation Z outlines specific requirements that lenders must follow when disclosing interest rates, loan fees, and other key terms of consumer credit. It helps to ensure that borrowers have accurate and complete information about the cost of credit, allowing them to make informed decisions about borrowing money. In general, Regulation Z applies to all credit transactions that are for personal, family, or household purposes, and that involve a finance charge or require a written agreement in order to create a debt.
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