ABA Family Legal Guide

Consumer Credit

Credit Cards

Protections for the Consumer

What if a credit grantor fails to obey TILA?

Violations include failing to disclose timely information as required under the Truth in Lending Act or giving you inaccurate information. You should inform the proper federal enforcement agency. To enforce your rights, you may bring a lawsuit for actual damages (any money loss you suffer.) You may also sue for the greater of twice the finance charge or $100. However, the most you can recover, even if the finance charge is high, is $1,000. If you win the lawsuit, the law also entitles you to court costs and lawyer's fees.

Under some state laws, a violation of TILA is an unfair or deceptive act or practice, or is a violation of other state law, and other remedies may be available.