Congress has enacted a number of regulations that have established criteria for evaluating home loan applicants and mandating disclosures in the origination of home loans. Which of the following congressional acts requires important disclosures concerning the cost of consumer credit, including the computation of the annual percentage rate (APR)?

Question

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The Truth-in-Lending Act (TILA) requires important disclosures concerning the cost of consumer credit, including the computation of the annual percentage rate (APR). It is aimed at protecting consumers by requiring lenders to disclose the full terms and costs associated with a loan before the borrower is obligated to accept the loan.

Congress Has Enacted a Number of Regulations That Have Established