FTC Staff Provides Annual Financial Acts Enforcement Report to Consumer Financial Protection Bureau
The staff of the Federal Trade Commission has provided its 2014 Annual Financial Acts Enforcement Report to the Consumer Financial Protection Bureau on enforcement and related activities regarding Regulation Z (Truth in Lending Act), Regulation M (Consumer Leasing Act), and Regulation E (Electronic Fund Transfer Act).
The report on TILA, CLA and EFTA addresses, among other things, the FTC’s enforcement actions related to non-mortgage credit (including automobile purchases and financing, and payday lending), mortgage loan advertising, and forensic audit scams; rulemaking, research, and policy development related to truth in lending; and consumer and business education regarding truth in lending requirements. It also addresses consumer leasing enforcement actions, as well as negative option and other cases involving electronic fund transfers.
A copy of the report also has been provided to the Federal Reserve Board. (FTC File No. P154802; the staff contacts are Carole L. Reynolds and Yaa Apori, Bureau of Consumer Protection, 202-326-3230 and 202-326-3796).
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