Question

question 12 4 pts the truth in lending act of 1968 requires creditors to google translate limit the amount of money charged for credit. state monthly finance charge and the annual percentage rate (apr) on the monthly statement. adhere to federal fixed interest rates and state the monthly finance charge.

Explanation:

The Truth in Lending Act (TILA) of 1968 mandates that creditors disclose key credit terms to consumers. Specifically, they must state the monthly finance charge and the Annual Percentage Rate (APR) on the monthly statement (and in credit offers) to help consumers compare credit costs. The first option is incorrect as TILA doesn't limit credit charges (that's not its primary focus), and the third option is incorrect because TILA doesn't require adherence to federal fixed interest rates (creditors can set rates within legal bounds, and disclosing APR/finance charge is the key requirement here).

Answer:

B. state monthly finance charge and the Annual Percentage Rate (APR) on the monthly statement.