Which regulation governs the disclosure of certain financial information to consumers?

The regulation that governs the disclosure of certain financial information to consumers is the Real Estate Settlement Procedures Act (RESPA). RESPA is designed to protect consumers by ensuring that they receive timely and appropriate disclosures about the costs associated with real estate settlement services. It mandates specific disclosures that lenders must provide, enabling consumers to understand the terms of their mortgage and any potential fees involved in the process.

RESPA covers key issues such as the requirement for good faith estimates of closing costs, as well as the provision of a settlement statement at closing. These measures help to promote transparency in the mortgage lending process, ultimately empowering consumers to make informed decisions.

Other options like the Home Mortgage Disclosure Act (HMDA) focus primarily on data collection and reporting requirements for lending institutions to ensure fair lending practices, while the SAFE Act is centered around the licensing and regulation of mortgage loan originators. Meanwhile, "ACT" doesn't specify a particular financial disclosure regulation and lacks the comprehensive focus on consumer disclosures that RESPA provides.