Voluntary disclosure checklist (recommended best practices)

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Voluntary disclosure checklist (recommended best practices)

Even where your state has no CFDL, using a transparent, standardized one-pager reduces disputes and accelerates compliance if a law later passes.

**Total funds provided** (net to recipient) and **total repayment** (if determinable).

**Finance charge / total dollar cost** (plain-English explanation; avoid UDAP risk). [Federal Trade Commission](https://www.ftc.gov/legal-library/browse/ftc-policy-statement-regarding-advertising-substantiation?utm_source=chatgpt.com)

**Payment method & frequency**, and whether amounts are **fixed or variable** (and what makes them vary).

**Estimated first payment** when amounts may vary (if relevant to the product).

**Prepayment policy** (costs, discounts, or lack thereof; how itâs calculated).

**Broker involvement & compensation** (if any), and a contact for **questions/complaints**.

**Electronic delivery consent** aligned to **E-SIGN**; capture **signature/acknowledgment**. [Federal Trade Commission](https://www.ftc.gov/sites/default/files/documents/reports/report-congress-electronic-signatures-global-and-national-commerce-act-consumer-consent-provision/esignreport.pdf?utm_source=chatgpt.com)

**Retention**: keep the disclosure and **delivery proof** with the agreement record (also meets Nacha/operational expectations when ACH is used). [nacha.org](https://www.nacha.org/news/ach-operations-bulletin-3-2024-open-banking-and-ach-payments-impact-cfpbs-personal-financial?utm_source=chatgpt.com)

**Sanctions/AML screening step** for counterparties prior to funding (document your risk-based controls). [OFAC](https://ofac.treasury.gov/media/16331/download?inline=&utm_source=chatgpt.com)

**Change-control log** tied to federal/state updates (1071 timelines, FTC/GLBA changes, TCPA rulings, Nacha bulletins). [Consumerfinance.gov](https://www.consumerfinance.gov/compliance/compliance-resources/small-business-lending-resources/small-business-lending-collection-and-reporting-requirements/?utm_source=chatgpt.com)