Finance
Which federal act requires lenders to disclose the Annual Percentage Rate (APR) to Iowa borrowers?
ARESPA
BTILA (Truth in Lending Act)✓ Correct
CCRA (Community Reinvestment Act)
DHMDA (Home Mortgage Disclosure Act)
Explanation
The Truth in Lending Act (TILA) requires lenders to disclose the APR, finance charges, and other key loan terms to help borrowers compare the true cost of different loans.
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