Talk:Truth in Lending Act

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These are all false statments and this act is a bunch of BS

This article is even more clear: ''And some economists said usury caps were a waste of time because the Truth in Lending Act guaranteed that issuers would disclose rates, Farley said. They believed the required disclosures would direct consumers away from high charges. As a result, there is no federal cap on rates. "The federal government only requires that whatever rates, fees or terms are set by issuers be disclosed to the consumer in accordance with the Truth in Lending Act," said Farley." Carol Moore 02:46, 1 October 2008 (UTC)Carolmooredc

According to "Default: the student loan documentary," this act doesn't apply to 'federally gauranteed student loans.' — Preceding unsigned comment added by 132.235.30.114 (talk) 05:45, 13 March 2012 (UTC)

A history of why it was enacted?
So why was this act created? Why was it put into place? What caused lawmakers to decide to put this into effect? There was probably some big controversy or problem that led to the creation of this act. Some history would be helpful. DMahalko (talk) 05:11, 19 October 2009 (UTC) heyy — Preceding unsigned comment added by 204.185.157.10 (talk) 17:00, 22 September 2016 (UTC)

Simplified opening para
Existing:

The Truth in Lending Act (TILA) of 1968 is a United States federal law designed to promote the informed use of consumer credit, by requiring disclosures about its terms and cost to standardize the manner in which costs associated with borrowing are calculated and disclosed.

Proposed:

The Truth in Lending Act (TILA) of 1968 is a United States federal law designed to promote the informed use of consumer credit. It aims to standardize the calculation and disclosure of costs associated with borrowing.

Existing duplication:

With the exception of certain high-cost mortgage loans, TILA does not regulate the charges that may be imposed for consumer credit. Rather, it requires uniform or standardized disclosure of costs and charges so that consumers can shop.

I started to ponder the awkward use of "its" in the first quote, and this is where I landed.

&mdash; MaxEnt 15:31, 23 September 2023 (UTC)