Legal Dictionary of Pakistan

Quick lookup for English, Urdu, and Latin legal terms used in Pakistani jurisprudence.

Consumer Credit Protection Act

A federa, statute that safeguards the consumer in connection with the use of credit by (1) requiring full disclosure of the terms of the loan agreement, including finance charges, (2) restricting the garnishment of wages, and (3) regulating the use of credit cards (15 USCA §§ 1601-1693). 0 Many states have adopted consumer-credit-protection acts. - Also termed Truth in Lending Act (abbr. TILA). See UNIFORM CONSUMER CREDIT CODE.