TILA - Banking awareness questions on current affairs

1)   Which of the following requires lenders to provide standardized information?

a. TILA
b. RESPA
c. NCUA
d. UCC
Answer  Explanation 

ANSWER: TILA

Explanation:
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.