Under the Truth-in-Lending Act, a creditor who violates disclosure rules may have to pay the consumer double the finance charged owed by the consumer (up to $1,000) plus attorney fees and court costs.

Question

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This is a correct statement according to the Truth-in-Lending Act. If a creditor violates the disclosure rules, they may have to pay the consumer double the finance charged owed by the consumer (up to $1,000) plus attorney fees and court costs as a penalty.

Under the Truth-In-Lending Act, a Creditor Who Violates Disclosure Rules