Finance
What does the Truth in Lending Act (TILA) require lenders to disclose to Alabama borrowers?
AThe property's assessed value
BThe annual percentage rate (APR) and total cost of credit✓ Correct
CThe seller's mortgage payoff amount
DThe agent's commission
Explanation
TILA (Regulation Z) requires lenders to disclose the annual percentage rate (APR) and total cost of credit in a standardized format so borrowers can compare loan offers.
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