Which organization administers the Truth in Lending Act?

The Consumer Financial Protection Bureau (CFPB) administers the Truth in Lending Act (TILA). This law was created to promote the informed use of consumer credit by requiring disclosures about its terms and cost. The CFPB was established with the mission to protect consumers in the financial sector, ensuring that financial institutions comply with regulations like TILA.

By managing the enforcement and implementation of TILA, the CFPB plays a key role in ensuring that consumers receive clear and accurate information regarding loans and credit, which helps them make informed financial decisions. This is crucial for promoting transparency and fairness in lending practices.

In contrast, the other organizations mentioned do not have this specific responsibility. The Federal Trade Commission focuses on consumer protection and competition, the Department of Justice handles law enforcement and legal matters, and the Securities and Exchange Commission oversees the securities industry, which does not include the administration of TILA.