The Purpose of the Truth in Lending Act of 1968

question 39

Multiple Choice

The purpose of the Truth in Lending Act of 1968 is to require lenders to quote:

• A) home mortgage finance charges in a standardized manner.
• B) rates on all certificates of deposit in a standardized manner.
• C) payments with and without credit life insurance.
• D) consumer loan finance charges in a standardized manner.
• E) finance charges on loans over $100,000 in a standardized manner.

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