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Texas Real Estate

?

What is the purpose of the Truth-in-Lending
Act (TILA)?

The TILA enforces Regulation Z.
The TILA ensures disclosure of clear and
full information regarding the true cost of
credit. The TILA regulates the APR.The TILA ensures that lenders receive full
disclosure of credit and income information
from borrowers

Correct - Your answer is correct.

Wrong - Your answer is wrong.

Detailed Answer

b.
The TILA is a consumer protection law stating that borrowers must be given full, complete, and clear information regarding the
true cost of credit.

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