To amend the Truth in Lending Act to modernize disclosure requirements, establish materiality standards and safe harbors for mortgage disclosures, simplify waiting period requirements, expand tolerances for annual percentage rate accuracy, and for other purposes.

This bill would change the rules about the information that lenders must share with borrowers when they take out a mortgage or other loan. It would update disclosure requirements, set standards for what counts as an important error in mortgage paperwork, create protections for lenders who follow the rules, simplify waiting periods, and allow for more flexibility in how the annual percentage rate (APR) is calculated and reported. No official summary is available for this bill.

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