The Truth in Lending Act outlines the responsibilities of the lender if five or more payments are needed to settle a debt. True or False
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The Truth in Lending Act (TILA) is a federal law passed in 1968 to ensure that consumers are treated fairly by businesses in the lending marketplace and are informed about the true cost of credit. The TILA requires lenders to disclose credit terms in an easily understood manner so that consumers can confidently comparison shop interest rates and conditions.
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I think correct option is true..
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