| A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z | AA | AB | AC | ||
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2 | Released: August 15, 2014 | Specifics of Truth-in-Lending Legislation in Different Countries | ||||||||||||||||||||||||||||
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4 | Country/Region | Has T-in-L legislation? | What body? | Year latest legislation passed | Lenders it Applies to | Are borrowers "protected" by the law? | Has standardised disclosure formula? | Is it well-known? | Name Given | T-in-L Annualization Method | Included in Standardized Disclosure formula | Venue for communication of prices to clients | Companion Legislation | Date Information Reviewed | ||||||||||||||||
5 | Nominal | Compound | Interest Paid | Fees (excl insurance) | Some fees excluded from formula? | Insurance | Compulsory deposit | Taxes | Loan contracts | Repayment schedules | Displayed in branches | Media (newspapers, advertisements.. etc) | Enforcement Agency | Has uniform Interest calculation method | Price Caps? | Who sets price caps and who enforces | Insurance - WHO MANAGES IT? | Compulsory Deposits banned? | ||||||||||||
6 | USA | Yes | Federal Reserve System | 1968 | All lenders | Yes | Yes | Yes | APR | x | x | x | x | x | x | x | x | No | Institution/External Provider | No | Aug-2014 | |||||||||
7 | European Union | Yes | European Commission | 1986 | All lenders | Yes | Yes | Yes | EIR (except UK is APR) | x | x | x | 4 Fees - See webpage for detail | x | x | x | x | x | x | x | Member States | No | Institution/External Provider | No | Aug-2014 | |||||
8 | EASTERN EUROPE | |||||||||||||||||||||||||||||
9 | Azerbaijan | No | No | Aug-2014 | ||||||||||||||||||||||||||
10 | Bosnia & Herzegovina | Yes | Banking Agency of the Federation of BiH | 2007 | All lenders | Yes | Yes | Yes | EIR | x | x | x | Yes - Conditional fees | x | x | x | x | x | x | x | Banking Agency of the Federation of BiH | Yes | No | Institution/External Provider | No | Aug-2014 | ||||
11 | Armenia | Yes | The Republic of Armenia | 2008 | All lenders | Yes | Yes | Yes | APR | X | x | x | No | x | x | x | x | The Republic of Armenia | No | No | Institution/External Provider | No | Aug-2014 | |||||||
12 | Kyrgyztan | Yes | The Kyrgyztan Republic | 2002 | MFIS | No | EIR (APR in one exception. Please see website for detail) | x | x | x | x | x | x | The Kyrgyztan Republic | Yes | No | No | Aug-2014 | ||||||||||||
13 | ASIA | |||||||||||||||||||||||||||||
14 | Cambodia | Yes | Central Bank of Cambodia | 2001 | All Lenders | Yes | No | x | x | Yes | No | No | Aug-2014 | |||||||||||||||||
15 | Pakistan | No | Aug-2014 | |||||||||||||||||||||||||||
16 | Philippines | Yes | Central Bank of the Philippines | 2012 | All lenders | Yes | Yes | EIR | x | x | X | Yes - conditional charges and penalty charges | X | x | x | x | Monetary Board, Central Bank of the Philippines | Institution/External Provider | Aug-2014 | |||||||||||
17 | India | Yes | Reserve Bank of India | 2012 | NBCF-MFIs | Yes | No | x | x | No | Yes - penalty charges | x | x | x | x | Reserve Bank of India | Yes | Yes | External Provider | Yes | Aug-2014 | |||||||||
18 | Bangladesh | No | MFIs | Yes | Yes | Aug-2014 | ||||||||||||||||||||||||
19 | Nepal | No | Aug-2014 | |||||||||||||||||||||||||||
20 | Indonesia | No | Aug-2014 | |||||||||||||||||||||||||||
21 | Vietnam | No | Aug-2014 | |||||||||||||||||||||||||||
22 | LATIN AMERICA | |||||||||||||||||||||||||||||
23 | Argentina | Yes | Central Bank of Argentina | Total Financial Cost (CFT) | x | x | x | Aug-2014 | ||||||||||||||||||||||
24 | Bolivia | Yes | Central Bank of Boliva | 2013 | Regulated banks | Yes | Yes | Yes | TEAC | x | x | x | 3 Fees - See webpage for detail | x | x | Institution/External Provider | Aug-2014 | |||||||||||||
25 | Colombia | Yes | Central Bank of Colombia | Regulated banks | Tasa Efectiva Anual | x | x | Yes! | x | Aug-2014 | ||||||||||||||||||||
26 | Ecuador | Yes | Central Bank of Ecuador | 2014 | Regulated banks | Yes | Yes | Yes | Tasa Efectiva Anual | x | x | x | Aug-2014 | |||||||||||||||||
27 | Mexico | Yes | Central Bank of Mexico | 2014 | Regulated banks | Yes | Yes | Yes | CAT (Costo Anual Total) | x | x | x | x | Aug-2014 | ||||||||||||||||
28 | Peru | Yes | Reserve Bank of Peru | Regulated banks | x | x | x | x | NGOs * | Aug-2014 | ||||||||||||||||||||
29 | AFRICA | |||||||||||||||||||||||||||||
30 | BCEAO | Yes | Central Bank of West African Countries | All lenders | Yes | No | TEG | x | x | x | Aug-2014 | |||||||||||||||||||
31 | Ghana | Yes | Bank of Ghana | 2008 | All lenders | No standard; each MFI "must" create their own formula | No | Annual interest rate | x | x | x | x | x | x | x | The Investigation and Consumer Reporting Office | Institution/External Provider | Aug-2014 | ||||||||||||
32 | Ethiopia | No | Aug-2014 | |||||||||||||||||||||||||||
33 | Kenya | No | Aug-2014 | |||||||||||||||||||||||||||
34 | Malawi | No | Aug-2014 | |||||||||||||||||||||||||||
35 | Mozambique | No | Aug-2014 | |||||||||||||||||||||||||||
36 | Rwanda | No | Aug-2014 | |||||||||||||||||||||||||||
37 | South Africa | Yes | National Credit Regulator | 2008 | All lenders | Yes | Total Cost of Credit | N/A | N/A | x | x | x | National Credit Regulator with a National Consumer Tribunal | Institution/External Provider | Aug-2014 | |||||||||||||||
38 | Tanzania | No | Aug-2014 | |||||||||||||||||||||||||||
39 | Uganda | No | Aug-2014 | |||||||||||||||||||||||||||
40 | Zambia | Yes | Bank of Zambia | 2012 | All Lenders | Yes | Yes | Effective Annual Lending Rate | x | x | X | x | x | x | x | x | Yes | Yes | Bank of Zambia | Institution/External Provider | No | Aug-2014 | ||||||||
41 | MENA | |||||||||||||||||||||||||||||
42 | Morocco | No | Aug-2014 | |||||||||||||||||||||||||||
43 | Egypt | No | Aug-2014 | |||||||||||||||||||||||||||
44 | Lebanon | No | Aug-2014 | |||||||||||||||||||||||||||
45 | Algeria | No | Aug-2014 | |||||||||||||||||||||||||||
46 | Tunisia | No | Aug-2014 | |||||||||||||||||||||||||||
47 | Jordan | No | Aug-2014 | |||||||||||||||||||||||||||
48 | Palestine | No | Aug-2014 | |||||||||||||||||||||||||||
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