Truth in Lending Act (TILA): Federal law requiring disclosure of credit terms and standardizing the manner in which costs associated with borrowing are calculated and disclosed

Consumer Credit Protection Act: Federal law that protects consumers in their dealings with lenders and creditors, including requirements for transparent lending practices

Fair Debt Collection Practices Act (FDCPA): Federal law that limits the behavior and actions of debt collectors who are attempting to collect debts on behalf of another person or entity

UCC Article 3: Uniform Commercial Code Article governing negotiable instruments, including promissory notes, providing rules for their creation, transfer, and enforcement

State Usury Laws: State-specific laws that set maximum interest rates that can be charged on loans and the penalties for exceeding these rates

State Promissory Note Requirements: State-specific requirements for the format, content, and execution of promissory notes to ensure their validity and enforceability

State Contract Laws: General state laws governing contract formation, validity, and enforcement that apply to promissory notes

State Statute of Limitations: State-specific time limits within which legal action must be taken to collect on a promissory note

Capacity Requirements: Legal requirements ensuring all parties have the legal capacity to enter into a binding agreement (age, mental competency, authority)

Securities Laws: Federal and state laws that may apply if the promissory note could be considered a security, particularly if it might be sold or transferred

Bankruptcy Laws: Federal laws affecting the treatment and enforceability of promissory notes in bankruptcy proceedings

Tax Laws: Federal and state tax implications for both lender and borrower regarding interest payments and debt forgiveness