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After All This Time: An Analysis Of The Recent Trend To Extend Truth-In-Lending-Style Disclosures To Commercial-Financing Transactions, Kelly W. Cline
After All This Time: An Analysis Of The Recent Trend To Extend Truth-In-Lending-Style Disclosures To Commercial-Financing Transactions, Kelly W. Cline
Campbell Law Review
The Truth in Lending Act of 1968 (TILA) was designed to protect consumers by implementing uniform disclosures for consumer financing transactions and by creating substantive consumer protections. While TILA has been amended over the past fifty years to reflect modern needs, it has always remained a consumer financing law. Over the past few years, however, states have challenged that notion by passing laws which require TILA-inspired disclosures for certain commercial-financing trans-actions. And at the federal level, a bill was introduced in the United States House of Representatives (House Bill) that would expand TILA to commercial-financing transactions falling below a certain …