Title III established the National Commission on Consumer Finance "to study and make recommendations to the Congress and to the President on the functions and structure of the consumer finance industry, as well as consumer credit transactions generally." Congress enacted the Consumer Credit Protection Act after President Johnson called for consumer credit protection in his message to Congress dated February 16, 1967. Since its enactment, the Consumer Credit Protection Act has been amended several times to add provisions relating to debt collection, credit reporting, credit billing, consumer leasing, and electronic fund transfers. Truth-in-Lending Act

The Truth-in-Lending Act (TILA) was enacted in 1969 as Title I of the Consumer Credit Protection Act. Fair Credit Reporting Act

The Fair Credit Reporting Act (FCRA) was enacted on October 26, 1970.
Congress enacted the Consumer Credit Protection Act in 1969, answering President Johnson's call for consumer credit protection legislation. The original Act consisted of the Truth-in-Lending Act, which was aimed at closing an important gap in consumer information, as well as provisions restricting garnishment of wages and establishing the National Commission on Consumer Finance. Since its enactment, the Consumer Credit Protection Act has been amended several times to add provisions relating to debt collection, credit reporting, credit billing, consumer leasing, and electronic fund transfers. In addition, the Equal Credit Opportunity Act was enacted to prohibit discrimination in considering an application for credit. This report discusses the major components of the Consumer Credit Protection Act, as amended, including recent amendments to the Fair Credit Reporting Act (FCRA) and the Truth-in-Lending Act, and summarizes the consumer's rights and remedies under each. This report will be updated as necessary.