Asked by Alyxis Guerra on Apr 29, 2024
Verified
A signed disclosure of finance charges form must be kept on file for:
A) 6 months
B) 1 year
C) 18 months
D) 2 years
Disclosure of Finance Charges
The act of making known any costs or fees associated with a financial transaction, typically required by law.
18 Months
A time period equal to one and a half years, often used to describe the age of infants or the duration of certain projects or warranty periods.
- Explore the standards of compliance and ethics in billing and collections, centering on credit balance management and adhering to disclosure requirements set forth by the Truth in Lending Act and the Fair Debt Collection Practices Act.
Verified Answer
FB
Francy BlancApr 30, 2024
Final Answer :
D
Explanation :
A signed disclosure of finance charges form must be kept on file for 2 years. This requirement is part of regulatory compliance to ensure transparency and accountability in financial transactions.
Learning Objectives
- Explore the standards of compliance and ethics in billing and collections, centering on credit balance management and adhering to disclosure requirements set forth by the Truth in Lending Act and the Fair Debt Collection Practices Act.