The heart of the Truth in Lending Act (TILA) is the required conspicuous disclosure of the amount financed,the finance charge,the annual percentage rate,and the number of payments.

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The Truth in Lending Act (TILA) and Regulation Z interpreting the act were designed both to protect consumers from credit abuse and to assist them in becoming more informed about credit terms and costs so they could engage in comparison shopping.The heart of the TILA is the required conspicuous disclosure of the amount financed,the finance charge (the actual dollar sum to be paid for credit),the annual percentage rate (APR-the total cost of the credit expressed at an annual rate),and the number of payments.

The Heart of the Truth in Lending Act (TILA) Is