If you could trace a straight line for consumer protection history, it would start with Regulation Z. Issued in 1968 after consumer credit experienced a massive increase following World War II, the new law was put in place as an effort to protect consumers from predatory lending practices. This is one reason credit unions should view Regulation Z in a positive light. Of course, this may seem difficult when measured against compliance challenges endemic to the regulation itself. With that said, let's take a closer look and discuss common Regulation Z scenarios and how to handle them best. Here are a few brief scenarios that explain what the regulation means for credit unions today.