English version

Truth in Lending Act

From Longman Business DictionaryTruth in Lending ActˌTruth in ˈLending ˌAct nounLAW in the US, a law under which moneylenders such as banks must tell borrowers the real cost of credit, including all charges, so they can decide which lender offers the best deal. It also gives borrowers who decide to use their property as SECURITY a three-day period in which to change their minds
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