- truth in lending
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Statutes which provide that precise and meaningful cost of credit information be provided to the credit customer.
Short Dictionary of (mostly American) Legal Terms and Abbreviations.
truth in lending
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Truth in Lending Act — (TILA) A federal law that requires lenders to disclose the true cost of credit transactions by providing certain information to borrowers, including the terms of a loan, interest rates, and the number, amount, and due dates of all payments… … Law dictionary
truth-in-lending act — n. A federal law requiring lenders to reveal to consumers applying for commercial credit the true cost of that credit, in order to enable consumers to shop around for the most favorable credit terms. The Essential Law Dictionary. Sphinx… … Law dictionary
Truth in Lending Act — ˌTruth in ˈLending ˌAct noun LAW in the US, a law under which moneylender S such as banks must tell borrowers the real cost of credit, including all charges, so they can decide which lender offers the best deal. It also gives borrowers who decide … Financial and business terms
Truth in Lending Act — The Truth in Lending Act (TILA) of 1968 is a United States federal law designed to protect consumers in credit transactions by requiring clear disclosure of key terms of the lending arrangement and all costs. The statute is contained in title I… … Wikipedia
Truth-in-Lending Act — The purpose of the Truth in Lending Act (15 U.S.C.A. No. 1601 et seq.) is to assure that every customer who has need for consumer credit is given meaningful information with respect to the cost of that credit. In most cases the credit cost must… … Black's law dictionary
Truth in Lending Act — The purpose of the Truth in Lending Act (15 U.S.C.A. No. 1601 et seq.) is to assure that every customer who has need for consumer credit is given meaningful information with respect to the cost of that credit. In most cases the credit cost must… … Black's law dictionary
Truth In Lending Act - TILA — A federal law enacted in 1968 with the intention of protecting consumers in their dealings with lenders and creditors. The Truth in Lending Act was implemented by the Federal Reserve through a series of regulations. The most important aspects of… … Investment dictionary
the Truth in Lending Act — UK US noun [S] US LAW, FINANCE ► a US law to protect people borrowing money by making organizations that lend money provide information about all the costs involved: »We need stiffer penalties for violations of the Truth in Lending Act … Financial and business terms
Truth-in-Lending Act — A Federal statute that governs a number of practices related to bank loans especially, but not only, consumer loans. The Federal Reserve Board of Governors has adopted Regulation Z to implement this statute. The regulation has specific… … Financial and business terms
Truth in Lending Law — Legislation governing the granting of credit, that requires lenders to disclose the true cost of loans and the actual interest rates and terms of the loans in a manner that is easily understood. Bloomberg Financial Dictionary … Financial and business terms
