Finance
What is the Truth in Lending Act (TILA) designed to do?
ASet maximum interest rates on mortgages
BRequire lenders to disclose the true cost of credit, including APR✓ Correct
CProhibit discriminatory lending practices
DRegulate escrow accounts
Explanation
TILA (Regulation Z) requires lenders to disclose the true cost of borrowing, including the Annual Percentage Rate (APR), finance charges, and loan terms, so borrowers can comparison shop.
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