Finance
The Truth-in-Lending Act (TILA) requires lenders to disclose the:
AExact monthly payment for the life of the loan
BAnnual Percentage Rate (APR) and total finance charges✓ Correct
CCredit score used to approve the loan
DAmount of the lender's profit on the transaction
Explanation
TILA (Regulation Z) requires lenders to disclose the Annual Percentage Rate (APR), total finance charges, and other key loan terms so borrowers can compare loan costs. The APR includes interest and certain fees, making it a broader cost measure than the stated interest rate.
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