Brad borrows $20,000 from City Bank to repair his home and to buy a car. Brad buys a stereo from Delta Discount Store in a transaction financed by Delta. If these parties are subject to the Truth-in-Lending Act, Regulation Z ap?plies to

Question

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The Truth-in-Lending Act and Regulation Z apply to credit transactions, including loans and retail installment sales. Therefore, both Brad's car loan and home repair loan, as well as his retail installment sale for the stereo, would be subject to Regulation Z.

Brad Borrows $20,000 from City Bank to Repair His Home