Disclosure of finance charges on your account statements is regulated by the
A) Equal Credit Opportunity Act.
B) Truth in Lending Act.
C) Fair Credit Reporting Act.
D) Fair Credit Billing Act.
E) Usury laws in each state.

Question

Quizplus · Accepted Answer

The Truth in Lending Act requires lenders to disclose the finance charges associated with a loan or credit account. This information must be listed on account statements and in other loan documentation. The other options do not specifically address finance charge disclosure.

Disclosure of Finance Charges on Your Account Statements Is Regulated