The Truth in Lending law is primarily designed to protect
A) corporate borrowers.
B) banks.
C) consumers.
D) investors in municipal bonds.

Question

Quizplus · Accepted Answer

The Truth in Lending law (also known as the Consumer Credit Protection Act) is primarily designed to protect consumers. It requires lenders to disclose key information about loans, such as the APR, finance charges, and the total cost of credit, in order to help consumers better understand and compare the costs of different loans. By providing consumers with this information, the law aims to promote fair lending practices and prevent deceptive or abusive lending practices that may harm consumers.

The Truth in Lending Law Is Primarily Designed to Protect