Forty-two years ago, the Truth In Lending Act advanced consumer protection rights by requiring that all costs and terms of any type of loan or credit be presented to the customer before any contracts were signed. Today, as America struggles to recover from the worst economic times since the Great Depression, the Federal Reserve is considering profoundly amending the Act to be less powerful in its defense of homeowners. Civil rights groups, consumer advocacy groups, and foreclosure attorneys are up in arms, claiming that the amendment should be delayed and handled not by the Fed, but by the Consumer Financial Protection Bureau, which begins operations early next year → Read More