Personal Financial Management
The Truth in Lending Act (TILA) is a federal law enacted to promote informed use of consumer credit by requiring clear disclosure of key terms and costs associated with borrowing. This legislation is crucial in ensuring that consumers are fully aware of the financial obligations they are entering into, making it essential for understanding various forms of consumer credit, the protections available under credit laws, and the implications for debt consolidation and refinancing.
congrats on reading the definition of Truth in Lending Act. now let's actually learn it.