The Truth in Lending Act, or TILA, is designed to protect consumers and credit transactions by requiring disclosures about their terms and to standardize the way costs associated with borrowing are calculated and disclosed. TILA also gives consumers the right to cancel certain credit transactions that involve a lien on a consumer's principal dwelling, regulates certain credit card practices, and provides a means for fair and timely resolution of credit billing disputes. In this course, we’ll provide a detailed description of TILA and Regulation Z, which implemented the act. We’ll talk about the various subparts of the act, who it does and does not apply to, and the disclosure requirements under the act.