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CFPB: Truth in Lending Rule Now Available in Easier-to-Navigate Format
Wednesday, May 14, 2014 6:55 AM

As part of its eRegulations tool, the Consumer Financial Protection Bureau (CFPB) says it is launching an intuitive, easier-to-navigate electronic format of Regulation Z, which implements the Truth in Lending Act. Regulation Z is the flagship federal regulation protecting consumers when it comes to credit products. Regulation Z can be complex to understand for people who have not specialized in it. And it has changed a lot recently with the addition of new rights and disclosures for mortgages.

By adding Regulation Z, one of the most complex and heavily-consulted consumer financial regulations, the CFPB says it can help mortgage stakeholders better understand and comply with the recent amendments implementing the Ability to Repay rules, the new federal mortgage integrated disclosures, and other changes. Stakeholders who deal with credit cards, auto loans, student loans, and other consumer credit will also benefit, because Regulation Z covers virtually all forms of consumer credit.