Which act provides consumers with full disclosure of settlement charges?

The Real Estate Settlement Procedures Act (RESPA) is designed specifically to ensure that consumers receive complete and accurate information regarding the costs involved in settling real estate transactions. This federal law mandates that lenders provide borrowers with a Good Faith Estimate (GFE) of settlement charges, ensuring transparency concerning the fees and services that will be incurred during the settlement process. This regulation helps consumers better understand the financial implications of their transactions, thus protecting them from unfair practices and hidden fees.

In contrast, the other acts mentioned serve different purposes; for example, the Dodd-Frank Wall Street Reform Act focuses on improving financial regulations after the 2008 financial crisis, the Truth in Lending Act emphasizes clear disclosure of credit terms, and the Securities Exchange Act regulates securities transactions. None of these specifically address the comprehensive disclosure of settlement charges in real estate transactions like RESPA does.