Credit Insurance Disclosure Provisions of the Truth in Lending Act Consistently Enforced Except When Decisions Appealed

摘要

GAO found that the five Federal depository institution regulators enforced the credit insurance disclosure requirements of the Truth in Lending Act in a generally consistent manner. Consistent enforcement should be achieved in the future through the act which provides precise enforcement remedies for violations on transactions completed after March 31, 1982. However, GAO believes that for transactions completed prior to April 1, 1982, both agencies should have developed consistent enforcement policies to deal with appealed and unappealed cases and adequately informed the Federal Financial Institutions Examination Council so that it could consider revising the interagency enforcement criteria.