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Which federal law passed in 1969 required creditors to state the cost of borrowing in common language?
Wiki User
∙ 13y ago
Truth in Lending Act -s a United States federal law designed to promote the informed use of consumer credit, by requiring disclosures about its terms and cost to standardize the manner in which costs associated with borrowing are calculated and disclosed. [1]
TILA also gives consumers the right to cancel certain credit transactions that involve a lien on a consumer's principal dwelling, regulates certain credit card practices, and provides a means for fair and timely resolution of credit billing disputes. With the exception of certain high-cost mortgage loans, TILA does not regulate the charges that may be imposed for consumer credit. Rather, it requires uniform or standardized disclosure of costs and charges so that consumers can shop. It also imposes limitations on home equity plans that are subject to the requirements of Sec. 226.5b and certain higher-cost mortgages that are subject to the requirements of Sec. 226.32. The regulation prohibits certain acts or practices in connection with credit secured by a consumer's principal dwelling.
Wiki User
∙ 13y ago
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What federal public works projects did Herbert Hoover oppose?
required borrowing money and government deficit spending.
Herbert Hoover opposed those federal public works projects that?
NovaNET Answer: required borrowing money and government deficit spending.
Who is responsible for the federal government borrowing?
bobo
When the level of federal borrowing makes it more difficult for private businesses to borrow?
When the level of federal borrowing makes it more difficult for private business to borrow it is known as national debt.
When was the Federal Reserve given the authorization for setting margin rates for the purpose of borrowing to buy securities?
In the year 1934 the Securities Act gave the Federal Reserve gave authorization for setting margin. A margin is borrowing and buying securities.
Does the federal deficit add to the federal debt?
A budget deficit can lead to more borrowing thereby impacting on the national debt
The interest rate charged to banks borrowing from the Federal Reserve is known as the?
Repo rate
How does the federal reserve reducing the interest rate affect the bond market?
The cost of borrowing money.^%
The federal reserve can change the interest rate to help the economy. What is the interest rate?
the cost of borrowing money
Who has the authority to lower or raise interest rates to discourage or encourage the borrowing and spending money?
Federal Reserve
Who has the authority to lower or raise interest rates to discourage or encourage the borrowing and spending of money?
Federal Reserve
The Federal Reserve can change the interest rate to help the economy What is the interest rate?
the cost of borrowing money
