SAFE Lending Act of 2025

Bill 119 s 780, also known as the Truth in Lending Act Amendment, aims to make changes to the existing Truth in Lending Act in order to address specific issues related to the extension of consumer credit. The bill includes provisions that seek to enhance transparency and consumer protection in the credit industry.

One key aspect of the bill is the requirement for lenders to provide clearer and more comprehensive information to consumers about the terms and conditions of credit agreements. This includes disclosing the total cost of credit, including interest rates, fees, and other charges, in a more easily understandable manner.

Additionally, the bill aims to address issues related to predatory lending practices by imposing stricter regulations on lenders who engage in unfair or deceptive practices. This includes prohibiting certain practices that may harm consumers, such as charging excessive fees or engaging in discriminatory lending practices. Overall, the goal of Bill 119 s 780 is to ensure that consumers are better informed and protected when obtaining credit, and to promote fair and transparent practices in the credit industry. The bill seeks to strike a balance between protecting consumers and allowing for the continued availability of credit to those who need it.