The Truth in Lending Act (TILA) and the Real Estate Settlement Procedures Act tila act RESPA are both pivotal regulations designed to protect consumers in real estate transactions. While they share the common goal of enhancing transparency and fairness in lending practices, they address different aspects of the lending process and impose distinct requirements on lenders. Understanding these differences is crucial for lenders to ensure compliance and provide clear, accurate information to borrowers. Enacted in 1968, the Truth in Lending Act (TILA) focuses on promoting informed consumer decisions through transparency in credit transactions. To get more info visit here #tilaactRESPA