Finance
Under Regulation Z (TILA), a right of rescission gives borrowers in a refinance transaction how many business days to cancel?
A1 day
B3 days✓ Correct
C5 days
D7 days
Explanation
Regulation Z provides a 3-day right of rescission for most non-purchase money refinance transactions on a primary residence. The borrower may cancel without penalty within 3 business days.
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