Valentina
Tue Jan 21 2025
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5 answers
898
What are the 6 things in the Truth in Lending Act?
The Truth in Lending Act includes six key components: 1. Disclosure of credit terms to consumers. 2. Mandating the annual percentage rate (APR) be conspicuously displayed. 3. Requiring clear explanation of total costs to borrowers. 4. Implementing regulations to cover various types of consumer credit. 5. Establishing consumer rights to rescind certain loans within a three-day period. 6. Prohibiting unfair or misleading practices by creditors.
