Question

Type the correct answer in the box. Spell all words correctly.
Which act was designed to promote the use of consumer credit by requiring lenders to fully disclose the terms and conditions of any credit agreement?

________ Act was designed to promote the use of consumer credit by requiring lenders to fully disclose the terms and conditions of any credit agreement.

Answer 1

Answer:

Truth in lending act of 1968

Explanation:

The truth and lending act was passed in 1968, which was a federal law that helped promote consumer awareness, it basically required lenders to provide standardized disclosures on loan terms and costs, which would include information such as annual percentage rate, terms of the loan and the total cost of the loan.