Finance
Under the Truth in Lending Act (TILA), what must lenders disclose to borrowers?
AThe exact monthly payment only
BThe annual percentage rate (APR) and all finance charges✓ Correct
CThe appraised value of the property
DThe title search results
Explanation
TILA (Regulation Z) requires lenders to disclose the Annual Percentage Rate (APR), total finance charges, amount financed, and total of payments, enabling borrowers to compare loan costs.
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