Question

99 points.

Truth-in-lending laws require that _____.

banks allow Federal Reserve examiners to audit their financial activities

sellers provide full and accurate information about loan terms

banks lend each other funds using the federal funds rate

bank holding companies offer the same interest rates at all of their member banks

Answer 1

Hi,
Truth-in-lending laws require that sellers provide full and accurate information about loan terms.

Answer 2

• Truth-in-lending laws require that sellers provide full and accurate information about loan terms.

Step-by-step explanation:

The Truth in Lending Act (TILA) was a government law authorized in 1968 to secure shoppers in their dealings with loan specialists and banks. The TILA was executed by the Federal Reserve Board through a progression of guidelines. The most imperative parts of the demonstration concern the snippets of data that must be unveiled to a borrower preceding broadening credit: yearly rate (APR), term of the advance and all out expenses to the borrower. This data must be obvious on records exhibited to the buyer before marking, and furthermore conceivably on occasional charging proclamations.