In what year did Regulation Z come into effect?

Regulation Z, which implements the Truth in Lending Act, came into effect in 1969. This regulation was established to promote informed use of consumer credit by requiring disclosures about its terms and cost. Its intent is to ensure that consumers can compare various credit offers and understand the implications of taking on credit, including interest rates, fees, and payment schedules.

The year 1969 marks a significant milestone in consumer protection regulations, as it was designed to address issues surrounding transparency in lending practices, thus enhancing consumer rights and understanding. The subsequent years saw adjustments and amendments to Regulation Z, but the original framework was set in place in 1969, which is crucial to understand for those studying consumer finance and real estate practices, including timeshare regulations in Tennessee.