U.S. Mortgage Index

Truth in Lending Act

Also called Reg Z

Definition

The Truth in Lending Act, or TILA, is the federal law that requires meaningful disclosure of consumer credit terms. Regulation Z implements it. TILA is not RESPA.

In plain English

Credit has a price and a set of terms. TILA is the federal statute that requires those terms to be disclosed in a meaningful way for consumer credit, including many mortgages. RESPA covers settlement and much servicing. Annual percentage rate is one TILA disclosure idea, not the whole statute. Regulation Z is the implementing regulation, not a second page.

Technical definition

CFPB’s official Regulation Z landing page identifies 12 CFR Part 1026 as Truth in Lending and states that the regulation protects people when they use consumer credit, including mortgage loans. That identity is PRIMARY.

Why it matters

Loan Estimates, Closing Disclosures, and APR discussions sit in the TILA family. The statute page is the parent, not a rate-shopping tool.

Sources reviewed

Important note

This page is a statute identity. It is not a disclosure calendar or a comparison of loan offers.