Federal Reserve Regulation Z is mandated under the Equal Credit Opportunity Act to ensure fair interest rates are paid on deposits.

Question

Quizplus · Accepted Answer

Regulation Z is mandated under the Truth in Lending Act, not the Equal Credit Opportunity Act, and it is designed to protect consumers by ensuring that lenders provide clear and consistent information about credit terms, not to ensure fair interest rates are paid on deposits.

Federal Reserve Regulation Z Is Mandated Under the Equal Credit