The Truth-In-Lending Act

question 124

Multiple Choice

The Truth-In-Lending Act:

• A)applies to all installment contracts with more than two payments.
• B)prohibits discrimination in granting credit.
• C)requires a lender to disclose the total cost of credit or a loan.
• D)prohibits certain behavior on the part of a lender when trying to collect bad debts.

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Definitions:

Painting

The practice of applying pigment, color, or other medium to a surface with various tools, such as brushes, knives, or sponges, to create artistic expressions.

Dutch Trade

Refers to the extensive trading networks and practices of the Dutch, especially during the 17th century, which included the spice trade, slave trade, and the establishment of colonies.

High Tariffs

Government-imposed taxes on imported or, in some cases, exported goods designed to protect domestic industries from foreign competition or to generate revenue.

Dutch Republic

A historical state in Europe from the late 16th to the 18th centuries, known for its republican form of government, commercial prosperity, and contributions to the arts and sciences.