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Truth in Lending Act (TILA): Federal law requiring disclosure of credit terms and standardizing the manner in which costs associated with borrowing are calculated and disclosed

Dodd-Frank Act: Federal legislation that provides financial regulation and consumer protection, affecting how loans are originated and managed

Federal Trade Commission Act: Federal law governing unfair or deceptive practices in commerce, including lending practices

Fair Debt Collection Practices Act: Federal law that limits the behavior and actions of debt collectors who are attempting to collect debts on behalf of another person or entity

State Usury Laws: State-specific laws that set maximum interest rates that can be charged on loans to prevent excessive charges

State Promissory Note Requirements: State-specific formal requirements for promissory notes, including required elements and formatting

Statute of Frauds: Legal requirement that certain contracts, including promissory notes, must be in writing and signed to be enforceable

UCC Article 3: Uniform Commercial Code article governing negotiable instruments, including promissory notes, their creation, transfer, and enforcement

UCC Article 9: Uniform Commercial Code article governing secured transactions, applicable if the promissory note is secured by collateral

Statute of Limitations: Time limit within which legal action must be brought to enforce the promissory note, varies by state

Negotiability Requirements: Legal requirements for a promissory note to be considered negotiable, including unconditional promise to pay and definite terms

Default Provisions: Legal requirements for specifying consequences of default, including acceleration clauses and collection of attorney fees