The Truth in Lending Act is a federal law that regulates the credit market and sets minimum standards for the information that a creditor must provide in an installment credit contract. These include the sum being financed, the amount of the required minimum monthly payment, the total number of monthly payments, and the APR. The Act also specifies how the disclosures have to be made in written materials, such as separated in bold print or set off in a box.

The Act has several other provisions. It prohibits credit card companies from issuing cards to people who haven't applied for them, though the companies can send unsolicited credit application. It limits the amount the cardholder can be charged for unauthorized use of a credit card, and it regulates the advertising of credit by requiring disclosure of specified information. These disclosure requirements enable you to make accurate comparisons of credit offers.

Mortgages & Truth in Lending statements
The Real Estate Settlement Procedures Act (RESPA) contains information on the settlement or closing costs you are likely to face. The act also requires lenders to give you an information booklet, Settlement Costs and You, written by the U.S. Department of Housing and Urban Development, which discusses how to negotiate a sales contract, how to work with various