Which of the Following Best Expresses the Policy Behind the Truth-In-Lending

question 58

Multiple Choice

Which of the following best expresses the policy behind the Truth-in-Lending Act?

• A) To help borrowers by requiring lenders to charge a "reasonable" rate of interest as determined by the Federal Reserve Board.
• B) To help small business by requiring that lenders not use as collateral for secured loans a business's most important assets.
• C) To help debtors for loans for personal, family, or household purpose to be armed with the necessary information on a loan to better bargain for credit and to choose the creditor with the best terms.
• D) To help lenders by permitting them to investigate a person's credit history without having to worry about state libel laws.

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Definitions:

Life Experiences

Events and occurrences in an individual's life that contribute to their personal development and perception of the world.

Support Group

A group of individuals who come together to provide mutual support, usually around a common challenge or condition.

Mental Health Professional

A trained individual specializing in diagnosing and treating mental health disorders and providing support for psychological well-being.

Volunteer Layperson

An individual who offers services or assistance on a voluntary basis without professional credentials in the specific field.