Reg Z is the informal name for Regulation Z, which is a regulation issued by the Federal Reserve Board (FRB) in accordance with the Truth in Lending Act (TILA). It requires creditors to disclose credit terms to consumers in a clear and uniform format. The regulation sets out the rules for how creditors must disclose credit terms before, during, and after credit transactions. It also sets out guidelines for advertising and other forms of credit-related communication. Reg Z applies to most consumer credit transactions, including mortgages, auto loans, student loans, and credit cards. Reg Z, or Regulation Z, is a specific set of rules and regulations administered by the Consumer Financial Protection Bureau (CFPB). Specific provisions of Reg Z include: 1. Disclosures for Credit Transactions: Reg Z requires lenders to provide borrowers with information about the terms of their loan before it is finalized. This includes interest rates, fees, and other costs associated with the loan. 2. Equality of Credit Opportunity: Reg Z prohibits creditors from discriminating against individuals based on race, color, religion, national origin, sex, marital status, age or receipt of public assistance. 3. Limitations on Loan Terms: Reg Z limits the fees and interest that a lender can charge to borrowers when making a loan. It also limits other terms such as prepayment penalties and balloon payments. 4. Advertising Requirements: All advertisements for consumer credit must be clear and accurate in order to protect borrowers from misleading claims or deceptive practices. 5. Protections for Home Mortgage Loans: Reg Z provides protections for consumers who take out home mortgage loans by requiring lenders to provide certain disclosures before closing on a loan and prohibiting certain practices related to home mortgage loans such as yield spread premiums and mandatory arbitration clauses in contracts. See also [[BankOpedia/Equal Credit Opportunity Act (ECOA)]]