Which of the following instances of lending is most likely to be covered by the Truth in Lending Act (TILA) ?
A) A savings and loan association extends a $30,000 credit to a retail consumer.
B) An auto retailer extends a $25,000 credit to a buyer payable in five equal installments.
C) An accountancy firm extends a $10,000 one-time credit to an employee.
D) A bank extends a $20,000 credit to a farmer for use in agricultural purposes.
Correct Answer:
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