disclosures 6: Disclosures in Financing 6
- 11/29/06 09:53 AM
Advertising The Truth in Lending Actalso establishes disclosure standards for advetisements that refer to certain credit terms. If the annual percentage rate (APR) is disclosed, no more disclosures are required. If the APR is not disclosed , then all the specifics of all credit terms must be disclosed. An advertsement that discloses the number of payments, must also disclose the amount or percentage of the needed down payment, number of payments, the full finance charge, interest rate, property description, etc. As a matter a fact, if the interest rate is stated, it must also disclose the APR. Advertisements that would require … (1 comments)
Advertising The Truth in Lending Actalso establishes disclosure standards for advetisements that refer to certain credit terms. If the annual percentage rate (APR) is disclosed, no more disclosures are required. If the APR is not disclosed , then all the specifics of all credit terms must be disclosed. An advertsement that discloses the number of payments, must also disclose the amount or percentage of the needed down payment, number of payments, the full finance charge, interest rate, property description, etc. As a matter a fact, if the interest rate is stated, it must also disclose the APR. Advertisements that would require … (1 comments)
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