the act that requires every lender to provide the borrower with information about the costs of credit is called:

BANKING GENERAL KNOWLEDGE

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

A	The Truth in Lending Act
B	The Dodd-Frank Wall Street Reform and Consumer Protection Act
C	The Sabanes-Oxley Act

Explanation:

Detailed explanation-1: -The Truth in Lending Act (TILA) protects you against inaccurate and unfair credit billing and credit card practices. It requires lenders to provide you with loan cost information so that you can comparison shop for certain types of loans.

Detailed explanation-2: -The Truth in Lending Act, or TILA, also known as regulation Z, requires lenders to disclose information about all charges and fees associated with a loan. This 1968 federal law was created to promote honesty and clarity by requiring lenders to disclose terms and costs of consumer credit.

Detailed explanation-3: -The federal Truth-in-Lending Act-or “TILA” for short – requires that borrowers receive written disclosures about important terms of credit before they are legally bound to pay the loan.

Detailed explanation-4: -The Truth in Lending Act (TILA) of 1968 is a Federal law designed to promote the informed use of consumer credit. It requires disclosures about the terms and cost of loans to standardize how borrowing costs are calculated and disclosed.

Detailed explanation-5: -The Truth in Lending Act (TILA) protects consumers in their dealings with lenders and creditors. The regulations found in the TILA apply to most kinds of consumer credit, from mortgages to credit cards.

There is 1 question to complete.