Which entity is primarily responsible for enforcing Regulation Z?

The Consumer Financial Protection Bureau (CFPB) is the primary entity responsible for enforcing Regulation Z, which implements the Truth in Lending Act (TILA). This responsibility includes overseeing compliance by creditors with the requirements of the regulation, such as providing accurate disclosures of credit terms and managing consumer protection associated with loans and credit products.

The CFPB was established in 2010 to focus on consumer financial protection and has the authority to create rules, supervise entities, and enforce regulations related to lending practices. Their role includes not only enforcing Regulation Z but also addressing unfair, deceptive, or abusive acts or practices in the consumer financial marketplace.

In contrast, while other agencies may have roles in financial regulation and consumer protection, they do not have the primary enforcement responsibility for Regulation Z as the CFPB does. For example, the Federal Reserve previously had oversight responsibilities before the establishment of the CFPB, state banking authorities handle certain local compliance aspects, and the Federal Trade Commission deals with general consumer protection but does not specifically enforce Regulation Z.