Question

The Truth-in-Lending Act of 1969 requires which of the following

A) Adherence to the interest rates established by the Federal Reserve
B) Specifying loan rate standardization
C) Disclosure of only interest charges but no other fee
D) All of the above

Answer 1

The Truth-in-Lending Act of 1969 requires disclosure of only interest charges but no other fee. The Act aims to protect consumers by ensuring transparency in the lending process.

Step-by-step explanation:

The Truth-in-Lending Act of 1969 requires disclosure of only interest charges but no other fee. This means that lenders must provide borrowers with a clear understanding of the interest charges they will incur, but they are not required to disclose other fees that may be associated with the loan. The Act aims to protect consumers by ensuring transparency in the lending process. Therefore, the correct answer is C) Disclosure of only interest charges but no other fee.