selecting a credit card
The Truth In Lending Act
Several federal laws help protect consumers who have credit cards. The Truth in Lending Act requires creditors to clearly disclose credit terms, so consumers can easily compare features while shopping for credit. What other provisions does this law include?
Consumers are not liable for more than $50 on unauthorized credit card charges.
Consumers are not required to make monthly credit card payments.
Creditors must guarantee that credit card features will never change.
"A" is the correct answer. This law also states that creditors cannot use misleading advertising, must disclose certain information in writing before extending credit to consumers, and cannot issue unsolicited credit cards.