Federal Lending Law Reference Library
RPA Commercial Loans (RPACL) maintains this reference library for educational purposes. These pages summarize key provisions of federal laws relevant to commercial lending. All originator trainees should be familiar with each of these statutes.
Fair Credit Reporting Act (FCRA)
15 U.S.C. § 1681 et seq.
Governs consumer credit reporting agencies, consumer rights to dispute inaccurate information, permissible purposes for pulling credit, fraud alerts, and civil liability for violations.
Truth in Lending Act (TILA)
15 U.S.C. § 1601 et seq. | Regulation Z
Requires meaningful disclosure of credit terms and costs including APR, finance charges, and payment schedules. Includes the TRID integrated disclosure rules (Loan Estimate and Closing Disclosure).
Real Estate Settlement Procedures Act (RESPA)
12 U.S.C. § 2601 et seq. | Regulation X
Regulates settlement costs, prohibits kickbacks and referral fees, governs escrow accounts, and requires servicer disclosures on loan transfers. Applies primarily to residential mortgage loans.
Fair Debt Collection Practices Act (FDCPA)
15 U.S.C. § 1692 et seq. | Regulation F
Regulates third-party debt collectors. Prohibits harassment, false representations, and unfair practices. Updated by CFPB Regulation F (2021) to address electronic communications and call frequency.
Equal Credit Opportunity Act (ECOA)
15 U.S.C. § 1691 et seq. | Regulation B
Prohibits discrimination in any aspect of a credit transaction based on race, color, religion, national origin, sex, marital status, age, or receipt of public assistance. Applies to commercial loans.