Federal Reserve and Consumer Protection Laws
Posted by: in Home Mortgage Online, tags: Borrowers, Consumer Protection Laws, Credit Cards, Discrimination, Excerpt, Fair Housing Act, Federal Reserve, Handicap, Issuance, Loans, National Origin, Random, Religion, Truth In Lending Act, Truth In Lending Act 1968, Unauthorized Use, Uniform MethodsRandom Feed wrote an interesting post today on
Here’s a quick excerpt
Fair Housing Act (1968) Prohibits discrimination in the extension of housing credit on the basis of race, color, religion, national origin, sex, handicap, or family status. Truth in Lending Act (1968) Requires uniform methods for computing the cost of credit and for disclosing credit terms. Gives borrowers the right to cancel, within three days, certain loans secured by their residences. Prohibits the unsolicited issuance of credit cards and limits cardholder liability for unauthorized use
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