Which of the following acts requires disclosure of finance charges in terms of an annual percentage rate and requires that interest rates be calculated in a uniform manner in consumer credit transactions?
A) Fair Credit Billing Act
B) FTC Act
C) Equal Credit Opportunity Act
D) Truth-in-Lending Act

Question

Quizplus · Accepted Answer

The Truth-in-Lending Act requires disclosure of finance charges in terms of an annual percentage rate (APR) and mandates that interest rates be calculated in a uniform manner in consumer credit transactions. This act is designed to promote the informed use of consumer credit by requiring disclosures about its terms and cost.

Which of the Following Acts Requires Disclosure of Finance Charges