Regulation Z Truth In Lending
 

If you've started looking into the facts about predatory lending, you may know about the Truth in Lending Act, or TILA. Enacted by Congress in 1968, the Truth in Lending Act was originally part of the Consumer Protection Act and was meant to protect borrowers from falling prey to dishonest lenders. Regulation Z is an important part of the act.

Regulation Z defines to the businesses that extend credit to consumers exactly what they may or may not do when they extend this credit. It applies to both mortgage lenders and credit card companies. One part of it protects consumers by giving them the right to cancel certain credit card transactions that are in connection with a lien on the consumer's so-called principal dwelling.

Regulation Z also attempts to protect the millions of Americans who use credit cards. While Regulation Z does not regulate charges for consumer credit, it does regulate certain credit card practices and it ensures a fair and timely resolution of credit billing disputes. With all that said, however, many credit card companies--even those with names you know and trust--will still not tell you up front what fees you can potentially be charged.

Particularly when it comes to credit transactions, the fine print matters. Learn how to protect yourself before you need to pursue legal action with Regulation Z. The Premier Mortgage Auditing's Fraud Center can help. Our financial experts do document auditing as well as consulting on predatory lending practices. Just call or email us at (419) 340-9407 or at diiams123@yahoo.com, simply fill out our online consultation form. At the Premier Mortgage Auditing's Fraud Center, we believe that if you don't know your rights, you don't know your options.