Question
In: Finance
What are the two changes incorporated in the Truth-in-Lending Simplification Act that makes it different from...
What are the two changes incorporated in the Truth-in-Lending Simplification Act that makes it different from the Truth-in-Lending Act?
Solutions
Expert Solution
Answer-
The two changes incorporated in the Truth-in-Lending Simplification Act that makes it different from the Truth-in-Lending Act are
1) The reduction in the length and complexity of required disclosures especially in the closed end credit in the Truth-in-Lending Simplification Act compared to the Truth-in-Lending Act. It was recognzed that the excessive technical nature of the ddisclosure rules was the primary cause of flood of litigation and loss of consumer understanding of essential credit cost information.
2) Changes to make compliance easier for creditors. A reduction in the niumber of disclsures and requiring the federal reserve promulgate form which ensures that the coompliance is filed properly.
3) Changes to clarify legal issues. A clarification concerning creditor responsible for disclosure in transactions involving morethan one institution and cassification concerning adequate diisclosure of security interests.
jeff jeffy answered 1 year agoRelated Solutions
Suppose that, prior to the passage of the Truth in Lending Simplification Act and Regulation Z,...
Suppose that, prior to the passage of the Truth in Lending
Simplification Act and Regulation Z, the demand for consumer loans
was given by Qdpre-TILSA = 14 -90P (in billions of dollars) and the
supply of consumer loans by credit unions and other lending
institutions was QSpre-TILSA = 6 + 70P (in billions of dollars).
The TILSA now requires lenders to provide consumers with complete
information about the rights and responsibilities of entering into
a lending relationship with the institution,...
Suppose that, prior to the passage of the Truth in Lending Simplification Act and Regulation Z,...
Suppose that, prior to the passage of the Truth in Lending
Simplification Act and Regulation Z, the demand for consumer loans
was given by Qdpre-TILSA = 14 -90P (in billions of dollars) and the
supply of consumer loans by credit unions and other lending
institutions was QSpre-TILSA = 6 + 70P (in billions of dollars).
The TILSA now requires lenders to provide consumers with complete
information about the rights and responsibilities of entering into
a lending relationship with the institution,...
Suppose that, prior to the passage of the Truth in Lending Simplification Act and Regulation Z,...
Suppose that, prior to the passage of the Truth in Lending
Simplification Act and Regulation Z, the demand for consumer loans
was given by Qdpre-TILSA = 10 -80P (in
billions of dollars) and the supply of consumer loans by credit
unions and other lending institutions was
QSpre-TILSA = 4 + 80P (in billions of
dollars). The TILSA now requires lenders to provide consumers with
complete information about the rights and responsibilities of
entering into a lending relationship with the institution,...
Suppose that, prior to the passage of the Truth in Lending Simplification Act and Regulation Z,...
Suppose that, prior to the passage of the Truth in Lending
Simplification Act and Regulation Z, the demand for consumer loans
was given by Qdpre-TILSA = 6 -100P (in billions of dollars) and the
supply of consumer loans by credit unions and other lending
institutions was QSpre-TILSA = 5 + 100P (in billions of dollars).
The TILSA now requires lenders to provide consumers with complete
information about the rights and responsibilities of entering into
a lending relationship with the institution,...
Explain the intent of the Truth in Lending Act. What is the difference between the finance...
Explain the intent of the Truth in Lending Act. What is the
difference between the finance charge and the APR? please help!
thank you
Explain the intent of the Truth in Lending Act. What is the difference between the finance...
Explain the intent of the Truth in Lending Act. What is the
difference between the finance charge and the APR?
Changes in Sales Mix. Hi-Tech Incorporated produces two different products with the following monthly data (these...
Changes in Sales Mix.
Hi-Tech Incorporated produces two different products with the
following monthly data (these data are the same as the previous
exercise).
Cell
GPS
Total
Selling price per unit
$100
$400
Variable cost per unit
$ 40
$240
Expected unit sales
21,000
9,000
30,000
Sales mix
70 percent
30 percent
100 percent
Fixed costs
$1,800,000
Required:
If the sales mix shifts to 50 percent Cell and 50 percent GPS,
would the break-even point in units increase or decrease? Explain....
What makes human language different from the communication of animals?
What makes human language different from the communication of
animals?
What are some examples of moral hazard problems in bank lending? How do regulators act to...
What are some examples of moral hazard problems in bank lending?
How do regulators act to prevent these problems?
What are some examples of moral hazard problems in bank lending? How do regulators act to...
What are some examples of moral hazard problems in bank lending?
How do regulators act to prevent these problems?
ADVERTISEMENT
ADVERTISEMENT
Latest Questions
- Exercise 21-17 Indirect method; reconciliation of net income to net cash flows from operating activities [LO21-4]...
- 1. Summarize the four meanings of parrhesia as explained in the first section of the Foucault...
- Exercise 21-23 Cash flows from operating activities (direct method) [LO21-3] Portions of the financial statements for...
- A company currently pays a dividend of $3.25 per share (D0 = $3.25). It is estimated...
- Absenteeism is a major problem for some companies and in some industries. Suppose a study was...
- A
- Explain briefly the main challenges of business process integration for a small business with example ?
ADVERTISEMENT