Definitions for "Truth in Lending Act"
A key federal statute that provides for important disclosures of terms and ensures various consumer rights in lending transactions. Typically the APR is used to compare competing credit institutions.
A law requiring lenders to provide information giving borrowers the ability to compare one loan to another.
Requires creditors to give you written disclosures of important terms of the credit agreement, such as: APR Total finance charge Monthly payment amount Payment due dates Total amount being financed Length of the credit agreement Any charges for late payment
Keywords:  turnkey, project
Turnkey Project