Regulation z tila, implemented by the Federal Reserve Board, is a crucial component of the Truth in Lending Act (TILA), established to protect consumers in credit transactions. This regulation, which took effect in 1969, mandates transparency and clarity in lending practices, aiming to ensure that borrowers fully understand the terms and costs associated with credit. The primary purpose of Regulation Z is to promote informed consumer decision-making by requiring lenders to disclose key terms of credit transactions. This includes details on annual percentage rates (APRs), finance charges, total payments, and other critical elements. For more info click here