Study notes. AI-assisted reference for NMLS SAFE exam prep — verify against primary sources (CFR, statute, CFPB) before relying on it. Not legal advice.
Home Equity Loan Consumer Protection Act of 1988
federaltila-amendmenthome-equity-loans
The Home Equity Loan Consumer Protection Act of 1988 (HELCPA) is a federal statute that amended the Truth in Lending Act (TILA). This Act established specific disclosure requirements and limitations for home equity lines of credit (HELOCs), which are a form of open-end credit secured by a consumer's dwelling.
HELCPA introduced rules designed to protect consumers from unexpected changes in terms and to ensure they receive comprehensive information about HELOCs before opening an account. These provisions are implemented through Regulation Z, particularly in sections related to open-end credit and home-equity plans.
Source material
- cfpb_supervision and examination manual_tila exam procedures_2021 10
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