Consumer Credit Protection

Consumer Credit Protection refers to laws and regulations designed to safeguard borrowers from unfair lending practices and ensure they have clear information about loans and credit. It encompasses measures such as disclosure of loan terms, protection against deceptive practices, and safeguards against discrimination in lending. Notable regulations include the Truth in Lending Act, which mandates lenders to provide essential details about interest rates and fees, enabling consumers to make informed financial decisions. These protections aim to promote transparency and fairness in the credit market, ensuring that consumers are treated equitably and understand their rights and responsibilities.