Which of the following is NOT a TILA required disclosure?

The correct response indicates that the Notice of Adverse Action is not a disclosure mandated by the Truth in Lending Act (TILA). TILA primarily focuses on ensuring that consumers are provided with clear and understandable information regarding the terms and costs associated with credit.

The CHARM Booklet is a disclosure required for adjustable-rate mortgages and outlines the risks associated with such loans. The Right to Rescind is a consumer protection provision that allows individuals to cancel certain types of transactions, particularly in home equity loans and refinances, within three days. The Loan Estimate is a TILA requirement that provides borrowers with a detailed summary of the loan terms and estimated costs, allowing them to better understand and compare loan offers.

In contrast, the Notice of Adverse Action is governed by the Equal Credit Opportunity Act (ECOA) and pertains to the notification consumers receive when their application for credit is denied or a counteroffer is made. This distinction is important in understanding compliance requirements in real estate and mortgage service practices.