In order for a loan to come within the scope of the Truth in Lending Act,________.

A) the credit or loan must be subject to a finance charge
B) the credit or loan must have repayments of more than four installments
C) the credit or loan must have an interest rate of over 5%
D) the credit or loan must be subject to a finance charge,the credit or loan must have repayments of more than four installments,and the credit or loan must have an interest rate of over 5%
E) the credit or loan must be subject to a finance charge or have repayments of more than four installments,but there is no requirement that the loan have an interest rate of over 5%

Question

Zybrea Knight · Accepted Answer

Final Answer : E, Explanation :  In order for the Truth in Lending Act to apply,the credit or loan must be subject to a finance charge or must have repayments of more than four installments.

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