make your bank fill out this mortgage disclosure form. Designed by FTC staff economists Jim Lacko and Jan Pappalardo, this form is a huge improvement over the confusing ones you are likely to see.
A summary of the research is here. Don't say the government never did anything for you.
One of the surprising things to me at the FTC was the number of frauds perpetrated on poor people: credit repair, work at home scams, and diet, health, and exercise schemes. Better disclosure forms should help consumers protect themselves against deceptive lending practices.
That is a much easier to understand form. Has there been any discussion of using it in real life? Can the FTC force this or is this something congress must enact?
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