Open-End Disclosure Requirements Under the Truth-in-Lending Act (TILA) and Regulation Z

Summary

Banking laws and regulations require federal bank regulatory agencies to conduct periodic audits, investigations, and examinations of creditors' compliance with the Truth-in-Lending-Act (TILA) (15 U.S.C. § 1601, et seq.) and Regulation Z (12 C.F.R. § 1026.1 et seq.). This supervision includes, among other things, evaluation of an institution's compliance with open-end disclosure requirements. This practice note provides practitioners and their clients with a working knowledge of open-end disclosure obligations as a creditor.