Regulation Z or the Truth in Lending Act, encompasses several laws or acts and has been amended over the years. The regulation requires creditors to disclose the terms and cost of consumer credit transactions and includes rules meant to inform and protect consumers. There are specific requirements for open-end credit plans, whether they are real estate secured or not. This course focuses on the requirements and limitation extended to open-end consumer credit that is not secured by real estate. This course is intended for lenders, loan operations staff, and compliance personnel.
- Ensure your bank is sending the appropriate disclosures to account holders in the required timeframes
- Understand how costs, interest and fees are calculated and charged
- Know what date payments must be credited to an account based on when they were received
- Determine when disputes must be resolved and understand the activities a creditor is prohibited from when there is a dispute
- Acknowledge there are specific rules that apply to credit card issuers
Mobile, accessible, audio, video