<Tr> <Td_colspan="2"> Credit CARD Act of 2009 Dodd--Frank Wall Street Reform and Consumer Protection Act </Td> </Tr> <P> The Truth in Lending Act (TILA) of 1968 is 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 . </P> <P> TILA also gives consumers the right to cancel certain credit transactions that involve a lien on a consumer's principal dwelling, regulates certain credit card practices, and provides a means for fair and timely resolution of credit billing disputes . 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 . It also imposes limitations on home equity plans that are subject to the requirements of 12 C.F.R. 1026.40 and certain "higher - priced" mortgage loans (HPMLs) that are subject to the requirements of 12 C.F.R. 1026.35 . The regulation prohibits certain acts or practices in connection with credit secured by a consumer's principal dwelling . </P> <P> The Truth in Lending Act was originally Title I of the Consumer Credit Protection Act, Pub. L. 90--321, 82 Stat. 146, enacted June 29, 1968 . The regulations implementing the statute, which are known as "Regulation Z", are codified at 12 C.F.R. 226 . Most of the specific requirements imposed by TILA are found in Regulation Z, so a reference to the requirements of TILA usually refers to the requirements contained in Regulation Z, as well as the statute itself . </P>

The truth in lending act regulates interest rates and the terms of loans