How long must advertising materials be retained under TILA?

The requirement to retain advertising materials under the Truth in Lending Act (TILA) is two years from the last date the materials were used. This retention period is important because it allows the regulatory bodies to review and audit advertisements to ensure compliance with TILA's disclosure requirements.

By keeping records for this duration, lenders and mortgage professionals can provide evidence of adherence to the law in case of disputes or regulatory audits. This timeframe ensures that appropriate oversight is maintained while balancing the operational needs of the business. The two-year retention rule also aligns with the statute of limitations for filing certain claims, making it a crucial aspect of record-keeping in the mortgage industry.