what is a tila volation 
some examples of tila violations include a creditor failing to accurately disclose the apr and finance charge the misapplication of the daily interest factor and the application of penalty fees exceeding tila limits a creditor is also in violation if they do not allow the borrower to rescind the contract within the prescribed limit 8the bottom linethe truth in lending act tila was signed into law in 1968 as a means to protect consumers from unfair and predatory lending practices it requires lenders and creditors to supply borrowers with clear and visible key information about the credit extended tila prohibits creditors and loan originators from acting in a self seeking manner especially when to the detriment of the client to protect consumers against unfair lending practices consumers are granted the opportunity to rescind their agreement within a specific time for certain loan transactions the truth in lending act not only serves to protect consumers but also lenders and creditors who act in good faith 