Annual Report on the TILA, EFTA, and CARD Act
The Truth in Lending Act (TILA) and the Electronic Fund Transfer Act (EFTA) require the Consumer Financial Protection Bureau (Bureau) to make an annual report to Congress that includes a description of the administration of functions under TILA and EFTA, and an assessment of the extent to which compliance with TILA and EFTA has been achieved. In addition, the Credit Card Accountability Responsibility and Disclosure Act (CARD Act) requires reporting on supervisory and enforcement activities with respect to compliance by credit card issuers with applicable Federal consumer protection statutes and regulations.
This Report provides the information required by TILA, EFTA, and the CARD Act for the periods January 1, 2016–December 31, 2016, and January 1, 2017–December 31, 2017. This Report describes the Bureau’s and other agencies’ enforcement efforts and required reimbursements to consumers by supervised institutions as they relate to TILA, EFTA, the CARD Act, and their respective implementing regulations, Regulation Z (for TILA and the CARD Act), and Regulation E (for EFTA). It also provides an assessment of the extent of compliance with the provisions of TILA, EFTA, and their implementing regulations.