Dictionary Home » Webster's New World Finance and Investment Dictionary » Consumer Credit Protection Act of 1988

Consumer Credit Protection Act of 1988

Consumer Credit Protection Act of 1988 definition - finance
Important federal legislation that requires lenders to disclose important financial terms to consumers who are borrowing funds. The law requires that consumers be told what the annual percentage rate on their loan is, the total cost of the interest they will pay, and any other relevant loan terms. The act, enforced by the Federal Reserve Bank, is also known as the Truth in Lending Act.

Webster's New World Finance and Investment Dictionary Copyright © 2003 by Wiley Publishing, Inc., Indianapolis, Indiana.
Used by arrangement with John Wiley & Sons, Inc.

Comments
Improve this definition.
Do you have more to add? Share your linguistic knowledge or observation.
/Register to save your comments.