Search
 

LaFalce bill increasing TILA limits

WASHINGTON - In a gesture to retiring House Financial Services Committee Ranking Member John LaFalce (D-N.Y.), the House passed a bill that the congressman introduced increasing the thresholds for consumer disclosures in the Truth in Lending Act (TILA). The House approved the Truth in Lending Inflation Adjustment Act (H.R. 5507)...

By Staff Writer | Updated on October 15, 2002

WASHINGTON – In a gesture to retiring House Financial Services Committee Ranking Member John LaFalce (D-N.Y.), the House passed a bill that the congressman introduced increasing the thresholds for consumer disclosures in the Truth in Lending Act (TILA). The House approved the Truth in Lending Inflation Adjustment Act (H.R. 5507) to increase the maximum loan amount from $25,000 to $75,000 prompting consumer disclosures under TILA. Lenders, including credit unions, under the bill would be required to disclose finance costs to consumers for loans and leases in amounts up to $75,000. The bill awaits action in the Senate.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?

 

Recommended Stories

Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2023 ALM Global, LLC. All Rights Reserved.