The act that requires lenders to inform borrowers of the annual rate of interest to be charged,plus related fees and services charges is called:
A) The Consumer Protection Act.
B) The Product Safety Act.
C) The Predatory Mortgage Act.
D) The Truth in Lending Act.

Question

Quizplus · Accepted Answer

The act that requires lenders to inform borrowers of the annual rate of interest to be charged, plus related fees and service charges is called the Truth in Lending Act (TILA). This law is meant to protect consumers from misleading or deceptive practices by lenders and ensure that they have all the necessary information to make informed decisions about borrowing money.

The Act That Requires Lenders to Inform Borrowers of the Annual