Which of the following best expresses the policy behind the Truth-in-Lending Act?
A) To help borrowers by requiring lenders to charge a "reasonable" rate of interest as determined by the Federal Reserve Board.
B) To help small business by requiring that lenders not use as collateral for secured loans a business's most important assets.
C) To help debtors for loans for personal, family, household, or agricultural purpose to be armed with the necessary information on a loan to better bargain for credit and to choose the creditor with the best terms.
D) To help lenders by permitting them to investigate a person's credit history without having to worry about state libel laws.
Correct Answer:
Verified
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