Finance
Under the Truth in Lending Act (TILA), what must lenders disclose to borrowers?
AThe borrower's credit score
BThe annual percentage rate (APR) and total finance charges✓ Correct
CThe lender's cost of funds
DThe appraised value of the property
Explanation
TILA requires lenders to disclose the annual percentage rate (APR) and total finance charges so borrowers can compare loan costs across different lenders.
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