The federal Truth-in-Lending law:A) requires the lender to show how much profit is made on a particular sale.B) regulates the maximum cost of credit.C) is a uniform law, like the UCC, made available to all states.D) is intended to allow comparison of various credit offers or advertisements.

Question

The federal Truth-in-Lending law:A)  requires the lender to show how much profit is made on a particular sale.B)  regulates the maximum cost of credit.C)  is a uniform law, like the UCC, made available to all states.D)  is intended to allow comparison of various credit offers or advertisements.

Zybrea Knight · Accepted Answer

Final Answer : D, Explanation :  The federal Truth-in-Lending Act is designed to promote the informed use of consumer credit by requiring disclosures about its terms and cost. The primary purpose is to enable consumers to compare credit offers easily and make informed decisions about borrowing. It does not regulate profit, set maximum credit costs, nor is it a uniform law like the UCC but a federal regulation that applies to all states.

The federal Truth-in-Lending law:

A) requires the lender to show how much profit is made on a particular sale.
B) regulates the maximum cost of credit.
C) is a uniform law, like the UCC, made available to all states.
D) is intended to allow comparison of various credit offers or advertisements.

Definitions

Learning Objectives

Learning Objectives

Related questions