Compliance with Truth in Lending Act

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BSP MEMORANDUM NO. M-2008-020: Compliance with Truth in Lending Act

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Title Supreme Court: Compliance with Truth in Lending Act

Law: Bsp Memorandum No. M-2008-020

Decision Date: May 14, 2008

BSP Memorandum No. M-2008-020 mandates all banks and financial institutions to comply with the Truth in Lending Act, requiring clear disclosure of credit terms, including total costs and finance charges, to consumers prior to transaction completion.

truth in

lending

credit extension

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