Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

Does a lender (i.e. finance company) have to disclose how much interest will be charged on a loan?

April 26, 2017charged COMPANY disclose Finance Lender loan

0

Posted

Does a lender (i.e. finance company) have to disclose how much interest will be charged on a loan?

1 Answer

0

Posted

Yes. Any lender that is not a bank or trust company must register under the Cost of Credit Disclosure Act. This Act requires the lender to properly disclose the cost of borrowing to the consumer.