Which federal agency oversees compliance with Regulation Z?

The Consumer Financial Protection Bureau (CFPB) is the federal agency responsible for overseeing compliance with Regulation Z, which implements the Truth in Lending Act (TILA). TILA's primary purpose is to ensure that consumers obtain clear and meaningful information about the costs of borrowing, enabling them to make informed decisions. The CFPB was established following the financial crisis of 2008 to protect consumers in the financial marketplace, and it has authority over various consumer financial laws, including Regulation Z.

The role of the CFPB includes monitoring and enforcing regulations, providing consumer education, and ensuring that creditors adhere to the truth-in-lending requirements. This oversight helps to promote fairness and transparency in lending practices, which is a fundamental aspect of consumer protection in financial transactions.