4.+Truth+in+lending+act

The purpose of TILA is to promote the informed use of [|consumer credit], by requiring disclosures about its terms, cost to standardize the manner in which costs associated with borrowing are calculated and disclosed. TILA also gives consumers the right to cancel certain credit transactions that involve a [|lien] on a consumer's principal dwelling, regulates certain [|credit card] practices. TILA does not regulate the charges that may be imposed for consumer credit. Rather, it requires uniform or standardized disclosure of costs and charges so that consumers can shop. The lender must disclose to the borrower the [|annual percentage rate] (APR). The APR reflects the cost of the credit to the consumer. It contains things other than interest such as [|origination fees] and [|discount points].

TILA is designed to protect whom... a. producers b. the government c. consumers d. credit card companies - Anthony Brannan