Truth in Lending, or Regulation Z, needs to be revamped from start to finish.

What initially started out as a useful tool intended to allow prospective borrowers compare loan pricing has (in my opinion) evolved into one of the longest and most complex banking regulations in history. Further, it seems that many (if not most) borrowers do not understand the disclosures, and banks are pressed to comply with the regulation's volumonous and complex disclosure requirements.

In short, the regulation should be simplified both for clear understanding by consumers as well as for bankers to comply.

I do not think that what currently exists is at all what Congress intended. It might be helpful if Congressmen/women themselves would take a good look at their own lending disclosures, as well as the regulation, to see if this is what it was they wanted to assist consumers.

Jerry Gosse