Which act states that a creditor must make a loan to a natural person and not an entity?

Question

Quizplus · Accepted Answer

The Truth-in-Lending Act (TILA) requires creditors to provide consumers with clear and accurate disclosures about the terms of credit, including costs and rights. While TILA primarily applies to loans made to natural persons for personal, family, or household purposes, rather than to entities or for business purposes, the question's phrasing might be slightly misleading. TILA doesn't explicitly state that a creditor "must make a loan to a natural person and not an entity," but its protections are geared towards consumer loans rather than business loans.

Which Act States That a Creditor Must Make a Loan