What rights do I have under the Truth in Lending Act?

Under the Truth in Lending Act (TILA), consumers in Washington have a number of rights related to credit cards. Most importantly, consumers have the right to dispute or challenge any inaccurate or unauthorized charges on their credit cards. This means that if you believe that a charge is incorrect or that you did not authorize it, you have the right to dispute it with the credit card company. In addition, consumers are also protected from certain predatory practices by credit card companies. The TILA protects consumers from being charged fees for late payments that are above what was disclosed in the original credit card agreement. Furthermore, creditors are prohibited from issuing credit or increasing existing credit card limits without the consumer’s written permission. Finally, TILA also requires creditors to make certain disclosures to consumers. Creditors must include all key terms and conditions related to the credit card agreement. This includes the APR (annual percentage rate), the grace period, fees charged for cash advances, and the method of calculating finance charges. Overall, the Truth in Lending Act provides consumers in Washington numerous protections related to credit cards. By ensuring that creditors include all necessary terms and conditions in the credit card agreement and by prohibiting certain predatory practices, the TILA gives consumers the right to dispute incorrect charges and protects them from deceptive practices.

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What rights do I have under the Truth in Lending Act?

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