Which act provides legal protections against high-pressure sales tactics during mortgage transactions?

The Truth in Lending Act (TILA) is designed to ensure that consumers are provided with clear and accurate information regarding the costs associated with borrowing. This Act seeks to protect consumers from misleading and high-pressure sales tactics during mortgage transactions by requiring lenders to disclose key loan terms and costs upfront. By mandating the disclosure of the annual percentage rate (APR), finance charges, and total payments, TILA provides consumers with the necessary information to make informed financial decisions. This transparency helps empower consumers to compare different loan offers and understand their financial obligations, thereby reducing the likelihood of falling victim to aggressive or deceptive sales practices.