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

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​

Quizplus · Accepted Answer

The Truth-in-Lending Act applies to all consumer credit transactions, including loans and retail installment sales. Therefore, Regulation Z applies to all three types of transactions mentioned in the scenario, which are the car loan, the home repair loan, and the retail installment sale of the laptop.

Bea Borrows Funds from Credit Union to Repair Her Home