Determining the Finance Charge Under the Truth in Lending Act |
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| Authors: | Jonathan M. Landers |
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| Affiliation: | Jonathan M. Landers is Professor of Law, University of Illinois, and an Affiliated Scholar, American Bar Foundation. A.B. 1962, Colgate;LL.B. 1965, Harvard. |
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| Abstract: | Determination of the finance charge is central to the Truth in Lending disclosure scheme. The author analyzes difficulties encountered in drafting the finance charge provisions, judicial and administrative interpretations of the statutory provisions, and application of the concept to various types of transactions. He concludes that, despite imperfections in the statute and regulation, the present provisions are about the best that can be expected given the varieties of credit transactions and differences in state law provisions regulating such transactions. |
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