Ali needs to take out a new car loan. Regarding the loan costs, Ali is able to compare the dealer's suggested financing plan with that of his Bank's by virtue of the fact that
A) all sellers must disclose the financing details to any customer.
B) the Canadian Banking Act regulates sources of consumer loans.
C) each is required to supply a detailed statement showing the true annual interest and each associated cost of the proposed loan.
D) disclosure requirements have dated back to the 1960's.
E) each lender must conform to federal lending guidelines.
Correct Answer:
Verified
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Q16: Which of the following is NOT one
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