The regulation is divided into subparts.
Subpart B relates to open-end credit lines (revolving credit accounts), which includes credit card accounts and home-equity lines of credit (HELOCs).
Subpart C relates to closed-end credit, such as home-purchase loans and motor vehicle loans with a fixed loan term. It contains rules on disclosures, treatment of credit balances, annual percentage rate calculations, right of rescission,non requirements, and advertising.
Subpart D contains rules on oral disclosures, Spanish language disclosure in Puerto Rico, record retention, effect on state laws, state exemptions (which only apply to states that had Truth in Lending-type laws prior to the Federal Act), and rate limitations.
Subpart E contains special rules for mortgage transactions. Section 226.32 requires certain disclosures and provides limitations for loans that have rates and fees above specified amounts. Section 226.33 requires disclosures, including the total annual loan cost rate, for reverse mortgage transactions. Section 226.34 prohibits specific acts and practices in connection with mortgage transactions.
Several appendices contain information such as the procedures for determinations about state laws, state exemptions and issuance of staff interpretations, special rules for certain kinds of credit plans, a list of enforcement agencies, model disclosures which if used properly will ensure compliance with the Act, and the rules for computing annual percentage rates in closed-end credit transactions and total annual loan cost rates for reverse mortgage transactions.
Read more about this topic: Truth In Lending Act
Other articles related to "organization, organizations":
... These organizations do not nominate candidates for election but otherwise function similarly to political parties ... and Socialism 1991 Committees of Correspondence Communist Voice Organization 1995 Democratic Socialists of America 1982 Socialist International Freedom Road Socialist ... Conference of Marxist-Leninist Parties and Organizations (International Newsletter), International Coordination of Revolutionary Parties and Organizations ...
... The 3rd Sustainment Brigade has a permanent organization of two attached battalions, however this number can be changed when the unit is deployed in a theater of operations ...
Famous quotes containing the word organization:
“In any great organization it is far, far safer to be wrong with the majority than to be right alone.”
—John Kenneth Galbraith (b. 1908)
“Democracy is the wholesome and pure air without which a socialist public organization cannot live a full-blooded life.”
—Mikhail Gorbachev (b. 1931)
“Democracy means the organization of society for the benefit and at the expense of everybody indiscriminately and not for the benefit of a privileged class.”
—George Bernard Shaw (18561950)