How many days after applying for a secured loan must disclosures be made to the borrower under Regulation Z?

Under Regulation Z, which implements the Truth in Lending Act (TILA), lenders are required to provide certain disclosures to borrowers when they apply for a secured loan. The rule states that lenders must provide these disclosures within three business days of receiving a completed application for a secured loan.

This requirement is in place to ensure that borrowers have access to important information about the loan terms and costs, allowing them to make informed financial decisions. Providing the disclosures within this timeframe helps promote transparency in lending practices.

The stipulation of three business days is aligned with TILA's goals of consumer protection, ensuring borrowers are not left in the dark regarding crucial aspects of their borrowing options.