Lending

A Look at Finance Charges, APR & Amount Financed: A Refresher


Description
The Truth In Lending Act (TILA) is a federal law that was enacted in 1968 to protect consumers and instruct lenders on what information must be disclosed. Since 1968 the industry has grappled with understanding what is or isn’t a finance charge…when do they apply? How is the amount financed calculated?

While we been dealing with all of this since we plunged into the lending waters, it is never a bad thing to take the opportunity to refresh our knowledge or gain additional insights.

We Will Cover:

• Various finance charges
− What is always a finance charge?
− What may be a finance charge?
− What is never a finance charge?
• How the finance charge effects the APR
• APR tolerances
• How to properly calculate the amount financed

Who Should Attend:

Compliance Officers, Auditors, Lending Staff, Operations Staff, and interested parties. 

Air date: April 8, 2021
(Courses are current as of the date aired)

Instructor Name: Diane Banks

Content
  • A Look at Finance Charges Recorded Webinar.mp4
  • Webinar Survey
Completion rules
  • You must complete the units "A Look at Finance Charges Recorded Webinar.mp4"
  • Leads to a certificate with a duration: until April 8