15 U.S.C. § 1601 : US Code - Section 1601: Congressional findings and declaration of purpose

    (a) Informed use of credit
      The Congress finds that economic stabilization would be enhanced
    and the competition among the various financial institutions and
    other firms engaged in the extension of consumer credit would be
    strengthened by the informed use of credit. The informed use of
    credit results from an awareness of the cost thereof by consumers.
    It is the purpose of this subchapter to assure a meaningful
    disclosure of credit terms so that the consumer will be able to
    compare more readily the various credit terms available to him and
    avoid the uninformed use of credit, and to protect the consumer
    against inaccurate and unfair credit billing and credit card
    practices.
    (b) Terms of personal property leases
      The Congress also finds that there has been a recent trend toward
    leasing automobiles and other durable goods for consumer use as an
    alternative to installment credit sales and that these leases have
    been offered without adequate cost disclosures. It is the purpose
    of this subchapter to assure a meaningful disclosure of the terms
    of leases of personal property for personal, family, or household
    purposes so as to enable the lessee to compare more readily the
    various lease terms available to him, limit balloon payments in
    consumer leasing, enable comparison of lease terms with credit
    terms where appropriate, and to assure meaningful and accurate
    disclosures of lease terms in advertisements.