The Truth in Lending Act (TILA) is primarily designed to:

The Truth in Lending Act (TILA) is primarily

Multiple choice — select the best answer

ARequire all borrowers to receive a fixed interest rate
BProhibit discrimination in lending
CPromote informed credit use through disclosure of credit terms and cost
DInsure depositors against bank failure

✓ Correct answer: C. Promote informed credit use through disclosure of credit terms and cost TILA, implemented by Regulation Z, promotes the informed use of consumer credit by requiring meaningful disclosure of credit terms, most notably the Annual Percentage Rate (APR) and finance charge.

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The Truth in Lending Act (TILA) is primarily designed to:

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