The TILA fixes interest rates.

Name: The TILA fixes interest rates.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

The Truth in Lending Act (TILA) does not fix interest rates. It requires lenders to clearly disclose the costs and terms associated with a loan, including the interest rate, so that consumers can make informed decisions. The interest rate is usually determined by the lender based on factors such as the borrower's credit score, loan term, and market conditions.

The TILA Fixes Interest Rates