Meaning & use
Truth in Lending Act
Last updated
Meaning
proper nounproperlegalbusinessfinance
A US law that requires lenders to give borrowers clear information about loan costs and terms.
Grammar: Always used with 'the': the Truth in Lending Act. It is not countable.
Patterns
- the Truth in Lending Act
- under the Truth in Lending Act
- the Truth in Lending Act requires
The Truth in Lending Act helps consumers compare loan offers.
Under the Truth in Lending Act, lenders must disclose the annual percentage rate.
She studied the Truth in Lending Act before signing her mortgage.
Common combinations
- the Truth in Lending Act
- The Truth in Lending Act was passed in 1968.
- under the Truth in Lending Act
- Under the Truth in Lending Act, you have the right to cancel certain loans.
- Truth in Lending Act disclosure
- The Truth in Lending Act disclosure must be given before you sign.
Synonyms and how they differ
- TILA
- TILA is the common abbreviation for the Truth in Lending Act, used mostly in legal and financial writing.
Commonly confused: Truth in Lending Act or Truth in Lending?
Truth in Lending Act vs Truth in Lending
This is a shorter way to refer to the same law, but the full official name includes 'Act'.
Practice
What does the Truth in Lending Act require?
Choose one answer.
The Truth in Lending Act focuses on transparency, requiring lenders to give clear information about costs and terms. It does not force lending, early repayment, or card acceptance.
Make it your own
Write a sentence using “Truth in Lending Act”, then check it and compare it with the examples above.