Which of the Following Federal Statutes Requires Creditors to Disclose

question 49

Multiple Choice

Which of the following federal statutes requires creditors to disclose finance charges, including interest, points, and other fees paid?

• A) Fair Debt Collection Practices Act
• B) Consumer Financial Protection Act of 2010
• C) Mortgage Reform and Anti-Predatory Lending Act of 2010
• D) Truth-in-Lending Act

---

Definitions:

Consolidated Statement

Another term for consolidated financial statements, which combine the financial data of a parent company with its subsidiaries into a single comprehensive reporting document.

Shareholders' Equity

The residual interest in the assets of a company after deducting liabilities, representing the ownership stake of shareholders.

Acquisition Date

The date on which control of the assets of the acquired entity is transferred to the acquirer.

Fair Values

The estimated market value of an asset or liability, reflecting the price at which it could be bought or sold in a current transaction between willing parties.