Skip to Content

PHONE: 415-441-8669 | TOLL FREE: 888-50EVANS
Free Initial Consultation Available

Jan 3, 2020 by |

California and Bay Area Consumer Attorneys: The Truth in Lending Act and Consumer Rights


Knowing Your Rights

Lender Obligations Under The Truth in Lending Act

What Consumers Need to Know

The Truth in Lending Act of 1968 (TILA), 15 U.S.C. §§ 1601 et seq., is a federal law that was created to ensure that consumers receive accurate information when they enter into credit transactions. TILA covers most consumer credit loans, including mortgages, credit cards, and home equity loans, and was designed so that the disclosures given to consumers would be consistent and standardized. This law requires a creditor to disclose certain information in writing regarding the terms of a credit transaction. See especially Regulation Z promulgated under TILA for specific disclosure requirements, 12 C.F.R. §§ 1026 et seq. (2019).

Violations of TILA include, but are not limited to, improper disclosure of amount financed, finance charge, payment schedule, total of payments, annual percentage rate, and security interest disclosures. 12 C.F.R. §§ 1026 et seq. In certain circumstances, borrowers may be entitled to damages, rescission, and attorneys’ fees when their lender violates TILA requirements. See 15 U.S.C. § 1640. If you believe your lender has violated your rights under TILA call the litigators at Evans Law Firm, Inc. today at (415)441-8669. Our attorneys handled cases throughout California. We do not handle foreclosure or loan modification or refinancing cases, however.

Consumer Remedies

Remedies for violations of TILA may in certain kinds of cases include:

  • Actual monetary damages.
  • Attorneys’ fees and court costs for successful enforcement and rescission actions.
  • Statutory damages.
  • For individual cases, double the correctly calculated finance charge but not less than $100 or more than $1,000 for individual actions.
  • For class actions, an amount allowed by the court with no required minimum recovery per class member to a maximum of $500,000 or 1% of the creditor’s net worth, whichever is less.  15 U.S.C. § 1640 et seq.
Million Dollar Advocates Forum SuperLawyers Badge Best Lawyers Badge Avvo Lawyer Badge

Our Passion For Justice

415-441-8669 888-50EVANS
Evans Law Logo

Hear What Our Clients Have To Say

Star icons

"Contacted Ingrid on an elder financial abuse case - she was responsive, knowledgeable, and easy to work with. You can tell she is passionate about this area of law and has the experience to back it up. She is an excellent choice if you are looking for a results driven attorney and highly effective advocate."