The Truth-in-Lending Act:
A) is intended to help married women establish credit history
B) is intended to eliminate credit discrimination on the basis of sex, race, color, religion, and other characteristics set forth in the Act
C) encourages competition in financing consumer credit
D) restricts interest rates creditors may charge consumers
E) all of the other choices

Question

Quizplus · Accepted Answer

The Truth-in-Lending Act is primarily designed to promote the informed use of consumer credit by requiring disclosures about its terms and cost. It encourages competition among credit providers, which can lead to better terms for consumers.

The Truth-In-Lending Act