Truth in Lending Act (TILA): Federal law that requires lenders to provide standardized disclosures about loan terms and costs to promote informed borrowing decisions
Equal Credit Opportunity Act (ECOA): Prohibits discrimination in lending practices based on race, color, religion, national origin, sex, marital status, age, or receipt of public assistance
Bank Secrecy Act (BSA): Requires financial institutions to assist government agencies in detecting and preventing money laundering through record keeping and reporting requirements
Dodd-Frank Wall Street Reform: Comprehensive financial reform legislation that includes provisions affecting lending practices, risk retention, and consumer protection
Federal Reserve Act and Regulations: Establishes the framework for banking and monetary policy in the US, including regulations affecting lending practices and bank operations
Securities Acts (1933 & 1934): Federal laws governing the trading of securities and establishing registration requirements, particularly relevant if the loan can be securitized
USA PATRIOT Act: Requires financial institutions to implement Know Your Customer (KYC) procedures and enhanced due diligence
State Usury Laws: State-specific regulations that set maximum interest rates and govern other lending terms within each jurisdiction
Uniform Commercial Code (UCC): State-level standardized regulations governing commercial transactions, including secured lending and collateral arrangements
LIBOR Transition Requirements: Regulations and guidance regarding the transition from LIBOR to alternative reference rates like SOFR
FATCA: Foreign Account Tax Compliance Act requirements affecting foreign financial institutions and offshore accounts
Basel III Requirements: International banking standards affecting capital adequacy, stress testing, and market liquidity risk for participating banks
LSTA Guidelines: Loan Syndications and Trading Association standards and best practices for syndicated loan documentation and trading
U.S. Bankruptcy Code: Federal law governing bankruptcy proceedings and creditor rights, crucial for default scenarios and recovery procedures
ESG Requirements: Environmental, Social, and Governance standards that may affect lending criteria and reporting requirements
