Truth in Lending Act (TILA): Federal law that requires lenders to provide standardized disclosures about loan terms and costs to promote informed borrowing decisions

Equal Credit Opportunity Act (ECOA): Federal legislation that prohibits discrimination in lending based on race, color, religion, national origin, sex, marital status, age, or public assistance status

Fair Debt Collection Practices Act (FDCPA): Federal law governing debt collection practices and protecting borrowers from abusive collection methods

Dodd-Frank Act: Comprehensive financial reform legislation that includes provisions affecting private lending and consumer protection in financial transactions

UCC Article 3: Uniform Commercial Code provisions governing negotiable instruments, including promissory notes, their transfer, and enforcement

State Usury Laws: State-specific regulations that set maximum legal interest rates for loans and penalties for exceeding these limits

State Lending Regulations: State-specific rules governing lending practices, including licensing requirements and operational restrictions

State Statutes of Limitations: Time limits set by state law for bringing legal action to collect on a debt or enforce a promissory note

State Disclosure Requirements: State-mandated information that must be provided to borrowers in loan documents

Contract Formation Requirements: Legal elements necessary for a valid contract including offer, acceptance, consideration, and capacity to contract

Consumer Protection Statutes: State and federal laws designed to protect consumers from unfair lending practices and ensure transparency in financial transactions

IRS Regulations: Federal tax rules governing the treatment of interest income and reporting requirements for lenders and borrowers

Gift Tax Implications: Federal and state tax considerations when loans are made below market interest rates or forgiven