Asked by Laura Phoenix on May 12, 2024
Verified
The Truth-in-Lending Act protects consumers from harassment from creditors.
Truth-in-Lending Act
A U.S. federal law designed to promote the informed use of consumer credit by requiring disclosures about its terms and cost.
- Master and execute primary truths and falsehoods about loans, credit cards, and protections provided to consumers.
Verified Answer
AI
Alifah IlyanaMay 15, 2024
Final Answer :
False
Explanation :
The Truth-in-Lending Act is designed to protect consumers by requiring clear disclosure of key loan terms and costs, not to protect them from harassment by creditors. Protection from harassment is primarily covered under the Fair Debt Collection Practices Act.
Learning Objectives
- Master and execute primary truths and falsehoods about loans, credit cards, and protections provided to consumers.