Question

Bea borrows funds from Credit Union to repair her home and to buy a car. She buys a laptop from Discount Store in a transaction financed by the seller. If these parties are subject to the Truth-in-Lending Act, Regulation Z applies to_______.

Answer 1

Regulation Z applies to to the discount store owner or seller

Step-by-step explanation:

Regulation Z applies to a credit provider who provides credit to a customer and is willing to pay at agreed installments. Regulation Z is meant to implement the Truth-in-Lending act which is geared towards protecting customers. This includes, the obligation of a credit giver to furnish the receiver with all necessary information regarding the interest rate and total payable by the borrower.