What federal law requires lenders to disclose the true cost of credit, including the annual percentage rate (APR), to consumers?

The Truth in Lending Act (TILA), implemented through Regulation Z, requires lenders to disclose the cost of consumer credit in a uniform way so borrowers can compare loans. Key disclosures include the annual percentage rate (APR), the finance charge, the amount financed, and the total of payments. TILA also governs certain advertising of credit terms — if an ad states one specific term such as the down payment or a rate, it can trigger the requirement to disclose other terms. TILA is separate from RESPA (which governs settlement-cost disclosures and prohibits kickbacks) and from the Fair Housing Act (which bars discrimination). Consumer-protection financing laws appear regularly on the national portion.