Truth in Lending
Definition
A federal law requiring lenders to fully disclose in writing the terms and conditions of a mortgage, including the annual percentage rate and other charges. also called Regulation Z.
Use Truth in Lending in a sentence
“ They had to give what was called truth in lending because it was important to us and it was important to them as well. ”
“ Amos felt the contract did not comply with Truth in Lending because the agent was talking about charging him extra for things the contract never mentioned. ”
“ Janie was almost suckered in by the super low teaser rate on the offer, but the truth in lending disclaimer outlined the real story, and she knew better than to get sucked in. ”
