Regulations

The Federal Reserve, HUD and the Federal Trade Commission, among others, implement regulations that address many abusive lending practices.

Equal Credit Opportunity Act—Prohibits lenders from discriminating against credit applicants, establishes guidelines for gathering and evaluating credit information, and requires written notice when credit is denied. Read more
Fair Credit Reporting Act—Ensures accuracy and fairness of credit reporting. Read more
Home Ownership and Equity Protection Act—Imposes additional disclosure requirements and substantive limitations (for example, restrictions on short-term balloon notes) on home equity loans with rates or fees above a certain percentage or amount. Read more
Home Mortgage Disclosure Act—Requires certain mortgage lenders to disclose data regarding their lending patterns. Read more
Real Estate Settlement Procedures Act—Requires that consumers receive disclosures at various times in the transaction and outlaws kickbacks that raise the cost of settlement services. Read more
Truth-in-Lending Act—Prescribes uniform methods for computing credit costs, disclosing credit terms and resolving errors on certain types of credit accounts. Read more

e-Perspectives, Volume 3, Issue 2, 2003

Federal Reserve Bank of Dallas Community Affairs Office P.O. Box 655906, Dallas, Texas 75265-5906 214-922-5377
Gloria Vasquez Brown Vice President		Jackie Hoyer Houston Branch Senior Community Affairs Advisor
Diana Mendoza Community Affairs Specialist		Karen Riley Community Affairs Specialist
Jason Sweat Community Affairs Specialist
The views expressed are the authors' and should not be attributed to the Federal Reserve Bank of Dallas or the Federal Reserve System. Articles may be reprinted on the condition that the source is credited and a copy is provided to the Community Affairs Office.