Truth in Lending: 5.5.4.3.1 Errors attributable to a faulty calculation tool
The regulation excuses an error in the disclosure of the annual percentage rate that results from a corresponding error in a calculation tool used in good faith by the creditor, as long as the creditor promptly discontinues the use of the tool and notifies the Consumer Financial Protection Bureau in writing of the error in the tool.157 For example, if a creditor in good faith purchased an annual percentage rate computer program that calculated inaccurate annual percentage rates, the creditor would be excused from liability if it stopped usi