What uniform law is designed to simplify and modernize consumer credit and usury laws?

The Uniform Commercial Code (UCC) is primarily focused on harmonizing laws governing commercial transactions across different jurisdictions. While it addresses various aspects of sales, leases, negotiable instruments, and secured transactions, it is not specifically designed to simplify consumer credit and usury laws.

In contrast, the Truth in Lending Act serves to promote informed use of credit by requiring disclosures about its terms and costs. This law is integral in addressing consumer credit issues, ensuring that consumers receive clear and concise information about the borrowing process. It plays a crucial role in protecting consumers from deceptive lending practices and is directly aimed at simplifying and modernizing consumer credit laws.

The other options, such as the Consumer Protection Act and the Fair Credit Reporting Act, also focus on consumer rights but do not specifically target the simplification of consumer credit and usury laws as the Truth in Lending Act does. Therefore, this act is the most representative law directly associated with that purpose.