Teri borrows $10,000 from USA Bank to remodel a room in her home. This transaction is subject to

Name: Teri borrows $10,000 from USA Bank to remodel a room in her home. This transaction is subject to
Brand: Quizplus
Rating: 4.8 (52 reviews)

Question

Quizplus · Accepted Answer

The Truth-in-Lending Act (TILA) applies to this transaction because it requires lenders to disclose credit terms and costs, which enables consumers to compare loan offers. TILA is designed to protect consumers in credit transactions by ensuring they are informed about the terms and costs of borrowing.

Teri Borrows $10,000 from USA Bank to Remodel a Room