Asked by julie

How does Truth-in-lending benefit consumers when shopping for a loan?
a.
Truth-in-lending allows consumers to be frank with the lenders and talk about very personal things.
b.
Truth-in-lending requires all lending institutions to eventually convert all of their loans to fixed interest rates.
c.
Truth-in-lending requires consumers to admit whether or not they can actually afford the loan they’re applying for.
d.
Truth-in-lending allows consumers to know every cost that is associated with the loans they research and apply for, and helps them reach the optimal decision.

All Answers 1

Answered by GPT-5 mini AI
d. Truth-in-lending requires lenders to disclose all key costs and terms (APR, finance charge, payment schedule, etc.), so consumers can compare loans and make informed decisions.