QuestionMay 20, 2025

According to the Truth in Lending Act, which of the following is the bank NOT obligated to inform you of? A. Maximum finance charge B. Interest calculating method C. APR D. Annual fee amount

According to the Truth in Lending Act, which of the following is the bank NOT obligated to inform you of? A. Maximum finance charge B. Interest calculating method C. APR D. Annual fee amount
According to the Truth in Lending Act, which of the following is the bank NOT
obligated to inform you of?
A. Maximum finance charge
B. Interest calculating method
C. APR
D. Annual fee amount

Solution
4.4(257 votes)

Answer

D. Annual fee amount Explanation The Truth in Lending Act requires lenders to disclose certain key terms of credit, including the APR and maximum finance charge. However, it does not specifically require disclosure of annual fees unless they are part of the cost of credit.

Explanation

The Truth in Lending Act requires lenders to disclose certain key terms of credit, including the APR and maximum finance charge. However, it does not specifically require disclosure of annual fees unless they are part of the cost of credit.
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