Federal Reserve System: Truth in Lending
GAO-09-544R: Apr 2, 2009
- Full Report:
GAO reviewed the Federal Reserve System's new rule on the Truth in Lending Act. GAO found that (1) the rule amends Regulation Z, which implements the Truth in Lending Act (TILA), and the staff commentary to the regulation, following a comprehensive review of TILA's rules for open-end (revolving) credit that is not home-secured; and (2) the Federal Reserve System complied with applicable requirements in promulgating the rule.