Who enforces the Truth in Lending Act (TILA)?

• A. Office of the Comptroller of the Currency
• B. Consumer Financial Protection Bureau
• C. Federal Trade Commission
• D. Department of Housing and Urban Development

Answer: (B)

Enforcement of the Truth in Lending Act rests with the Consumer Financial Protection Bureau. The CFPB has primary enforcement and supervisory authority for most consumer financial products and the disclosures required by TILA through Regulation Z. The Bureau can examine lenders, issue regulations implementing TILA, and pursue enforcement actions for violations such as inaccurate or misleading disclosures. While other agencies may have limited enforcement roles for specific institutions or products, the CFPB is the principal authority for TILA today.