CONSUMER CREDIT PROTECTION ACT

Consumer Credit Protection Act.A federal statute that safeguards consumers in the use of credit by (1) requiring full disclosure of the terms of loan agreements, including finance charges, (2) restricting the garnishment of wages, and (3) regulating the use of credit cards. 15 USCA §§ 1601–1693. • Many states have also adopted consum-er-credit-protection acts. — Also termed ruth in Lending Act (abbr. TILA). See UNIFORM CONSUMER CREDIT CODE . [Cases: Consumer Credit  30. C.J.S. Interest and Usury; Consumer Credit §§ 317–318.] [Blacks Law 8th]