Multiple Choice
Which of the following best expresses the policy behind the Truth-in-Lending Act?
A) To help borrowers by requiring lenders to charge a "reasonable" rate of interest as determined by the Federal Reserve Board.
B) To help small business by prohibiting lenders from using,as collateral for secured loans,a business's most important assets.
C) To help debtors for loans for personal,family,household or agricultural purposes to be armed with the necessary information on a loan to better bargain for credit and to choose the creditor with the best terms.
D) To help lenders by permitting them to investigate a person's credit history without having to worry about state libel laws.
Correct Answer:
Verified
Correct Answer:
Verified
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