Question

This Act requires institutions disclose what credit will actually cost the consumer.

Select one:
a. Truth in Lending Act
b. Fair Credit Reporting Act
c. Fair Credit Billing Act
d. Truth in Leasing Act

Answer 1

truth in lending act

Answer 2

The Truth in Lending Act requires institutions disclose what credit will actually cost the consumer. Correct answer: A The Truth in Lending Act (TILA) is a federal law passed in 1968 to promote informed use of consumer credit. The informed use will protect consumers in their dealings with lenders and creditors.