Public Law 90-321
E482929
Public Law 90-321 is the 1968 federal statute better known as the Truth in Lending Act, which mandates clear disclosure of credit terms to protect consumers in credit transactions.
All labels observed (1)
| Label | Occurrences |
|---|---|
| Public Law 90-321 canonical | 2 |
Statements (51)
| Predicate | Object |
|---|---|
| instanceOf |
United States federal statute
ⓘ
consumer protection law ⓘ |
| affects |
consumers
ⓘ
creditors ⓘ |
| appliesTo |
closed-end credit
ⓘ
consumer credit transactions ⓘ credit cards ⓘ installment loans ⓘ mortgage loans ⓘ open-end credit ⓘ |
| codifiedIn | Title 15 of the United States Code NERFINISHED ⓘ |
| codifiedSectionsBegin | 15 U.S.C. § 1601 ⓘ |
| country |
United States of America
ⓘ
surface form:
United States
|
| enactedBy | United States Congress ⓘ |
| enactmentDate | 1968-05-29 ⓘ |
| enactmentYear | 1968 ⓘ |
| enforcedBy |
Consumer Financial Protection Bureau
NERFINISHED
ⓘ
Federal Reserve Board (historically) NERFINISHED ⓘ |
| hasAmendments | amended multiple times after 1968 ⓘ |
| hasLegislativeGoal |
avoidance of uninformed use of credit
ⓘ
standardization of credit cost disclosures ⓘ |
| hasPublicLawNumber | Pub.L. 90-321 NERFINISHED ⓘ |
| hasSection |
Section 102 (Congressional findings and declaration of purpose)
ⓘ
Section 121 (disclosure requirements) ⓘ Section 125 (right of rescission) ⓘ Section 130 (civil liability) ⓘ Section 131 (liability of assignees) ⓘ Section 132 (criminal liability) ⓘ |
| hasShortName |
TILA
NERFINISHED
ⓘ
Truth in Lending Act NERFINISHED ⓘ |
| implementedByRegulation | Regulation Z NERFINISHED ⓘ |
| influenced | later U.S. consumer credit regulations ⓘ |
| legalStatus | in force (as amended) ⓘ |
| partOf | Consumer Credit Protection Act NERFINISHED ⓘ |
| providesFor |
civil liability for creditors
ⓘ
rescission rights in certain credit transactions ⓘ statutory damages ⓘ |
| purpose |
to assure meaningful disclosure of credit terms
ⓘ
to promote the informed use of consumer credit ⓘ to protect consumers against inaccurate and unfair credit billing and credit card practices ⓘ |
| relatedTo |
Equal Credit Opportunity Act
NERFINISHED
ⓘ
Fair Credit Billing Act NERFINISHED ⓘ Fair Credit Reporting Act NERFINISHED ⓘ |
| requires |
clear disclosure of credit terms
ⓘ
disclosure of annual percentage rate ⓘ disclosure of finance charges ⓘ disclosure of total of payments ⓘ |
| signedBy | Lyndon B. Johnson ⓘ |
| subjectMatter |
consumer credit
ⓘ
consumer protection in lending ⓘ credit disclosure ⓘ |
Referenced by (2)
Full triples — surface form annotated when it differs from this entity's canonical label.