Home Equity Loan ConsumerÂ Protection Act of 1988

Law Consumer protection Law

Date: 23rd Nov, 1988 Source: Congress.gov Country: USA Original Source

Brief

'The Home Equity Loan Consumer Protection Act of 1988' amended the Truth in Lending Act to establish additional disclosure, advertising, and other requirements for home equity loans. The Act requires creditors to provide detailed disclosures about loan terms, fees, and risks associated with home equity plans. It also prohibits certain types of advertising and allows consumers to cancel agreements if terms change before account opening. The law aims to protect consumers from unfair practices in the home equity lending market.

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Home Equity Loan ConsumerÂ Protection Act of 1988

Brief

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Brief

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