TWO AG's SEND LETTER TO FEDERAL RESERVE QUESTIONING TILA PROVISION THAT WILL HARM CONSUMERS Source: stopforeclosurefraud.com TILA is designed to protect consumers who are not on an equal footing with lenders, either in bargaining for credit terms or in knowledge of credit provisions. The proposed amendments to Reg. Z, conditioning the voiding of the creditor's security interest upon the consumer's tender, would be a large step backward from this purpose. In a time of unprecedented numbers of foreclosures, it is unthinkable that the Federal Reserve would weaken a critical provision of TILA and thus harm consumers. | ![]() |
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