The Federal Trade Commission provided its Annual Financial Acts Enforcement Report to the Consumer Financial Protection Bureau on enforcement and related activities regarding Regulation Z (Truth in Lending Act), Regulation M (Consumer Leasing Act) and Regulation E (Electronic Fund Transfer Act).

Among the highlighted enforcement actions in 2014, the FTC reports it had nine new or ongoing cases involving EFTA and Regulation E issues. 

The FTC reported law enforcement actions against those who market or extend non-mortgage credit last year. Those actions include civil penalty measures, administrative consent orders, two important court rulings in an ongoing case and a ruling in an appellate case. 

The report specifically addresses the FTC's enforcement actions related to: non-mortgage credit such as automobile purchases and financing and payday lending; mortgage loan advertising; forensic audit scams; rulemaking, research and policy development related to truth in lending; and consumer and business education regarding truth in lending requirements. The report also highlights consumer leasing enforcement actions, as well as negative option and other cases involving electronic fund transfers.

The FTC retained its authority to enforce regulations under TILA, CLA and EFTA when the Dodd-Frank Act was signed into law in July 2010, according to the report. The law also gave the FTC the authority to “enforce any CFPB rules applicable to entities with the FTC’s jurisdiction, which include most providers of financial services that are not banks, thrifts or federal credit unions.

The FTC in 2014 also participated in research and policy work and educational activities involving EFTA and Regulation E.The full report is available here.

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