A Dealer Guide to Federal Truth in Lending Requirements

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L57_Truth_in_Lending_Requirements_150wThis guide explains the purpose, scope, and major provisions of the federal Truth in Lending Act and its implementing regulation (Regulation Z), as well as certain related issues, that affect dealer credit operations.  The guide details the disclosures required by TILA and Reg Z (such as the Finance Charge, Amount Financed, Annual Percentage Rate, Total of Payments, and Total Sale Price); the allowable methods for disclosing amounts paid to others and the financing of negative trade equity; numerous other technical requirements; and the consequences for noncompliance. 

Tags: Amount Financed, Amounts Paid to Others, Annual Percentage Rate, APR, Down Payment, Finance Charge, Itemization of Amount Financed, Late Charge, Late Payment, Negative Equity, Prepayment, Sale Price, Security Interest, Truth in Lending, TILA, Regulation Z, L57, DMG, Driven Management Guide, Driven Guide, #DrivenGuide, #MemberBenefits

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