The Purpose of the Truth in Savings Act Is to

question 178

Multiple Choice

The purpose of the Truth in Savings Act is to

• A) require banks to use a standard formula when stating interest rates.
• B) require that all fees be fully disclosed.
• C) require banks to offer a free checking account to low-income consumers.
• D) a and b
• E) a,b,and c

---

Definitions:

Author of Misfortune

A term denoting the individual or entity primarily responsible for a harmful event or situation.

Icy Sidewalk

An icy sidewalk is a pavement covered in ice, often posing a hazard due to the increased risk of slipping and falling.

Foreseen Risk

A foreseen risk is a potential problem or hazard that has been identified or could be reasonably anticipated in advance, often highlighting the importance of planning or mitigation efforts.

Injury

Physical harm or damage to the body caused by an accident or event.