Which federal consumer credit law provides specific cost disclosure requirements for the annual percentage rate and the finance charges as a dollar amount?
A)Fair Debt Collection Practice Act
B)Equal Credit Opportunity Act
C)Fair Credit Billing Act
D)Fair Credit Reporting Act
E)Truth in Lending Act

Question

Quizplus · Accepted Answer

The Truth in Lending Act requires lenders to disclose the annual percentage rate (APR) and the finance charge as a dollar amount to consumers, ensuring transparency in the costs associated with credit.

Which Federal Consumer Credit Law Provides Specific Cost Disclosure Requirements