Question

According to the Truth in Lending Act, what must banks do?

A. Lend money only to truthful people
B. Post their current interest rates in the lobby
C. Advertise only APR, not APY
D. Notify applicants of credit card terms

Answer 1

C. Notify applicants of credit card terms

-Checked on apex

Answer 2

D. Notify applicants of credit card terms

Explanation:

Truth in Lending Act is a United States federal law that promotes the disclosure of terms and conditions to the borrowers before borrowing any money. This is why it is also known as consumer credit protection act.

Hence, option D is the answer.