TILA- Provides bankers standardised information
Q. Which of the following requires lenders to provide standardized information?- Published on 20 Jul 15
The Truth in Lending Act (TILA) is a Federal law that requires lenders to provide standardized information so that borrowers can compare loan terms. Lenders must provide information on what credit will cost the borrowers, when charges will be imposed, and what the borrower's rights are as a consumer.