Disclosure of credit terms has been viewed as a primary means of protecting consumers from fraud and deception in credit transactions. To enhance the value of disclosure, Congress enacted the Truth in Lending Simplification and Reform Act of 1980. Professor Rohner analyzes this attempt to simplifij crcdit cost disclosures and finds that the new Act is no more likely to increase consumer protection than the original Truth in Lending Act. The new Act does solve some problems, but does nothing about others and even introduccs further complexities into credit transactions. Among the difficulties left unaddressed by the new Act are soni that are unique to newly developing credit transactions.
Ralph J. Rohner, Truth in Lending 'Simplified': Simplified?, 56 N.Y.U. L. REV. 999 (1981).