Glossary Term: CONSUMER CREDIT PROTECTION ACT OF 1988
Definition(s) for CONSUMER CREDIT PROTECTION ACT OF 1988:
1. ) Landmark federal legislation establishing rules of disclosure that lenders must observe in dealings with borrowers. The act stipulates that consumers be told annual percentage rates, potential total cost, and any special loanterms. The act, enforced by the Federal ReserveBank, is also known as the Truth in Lending Act. See also FinanceCharge, Truth in Lending Act.
Fund Letters
