Quick answer
TILA, implemented by Regulation Z, requires consumer credit cost disclosures so borrowers can compare terms such as APR, finance charges, and key fees.
Why it matters
The practical meaning.
Clear price disclosure is the difference between comparing credit offers and guessing. TILA is central when a loan or credit card offer hides the real cost of borrowing.
Key points
1.
APR and finance-charge disclosures help consumers compare credit terms.
2.
Regulation Z is the implementing regulation for many TILA requirements.
3.
Keep the original application, disclosure, and billing documents when disputing a cost or fee issue.
