TILA (Truth in Lending Act)

The Truth in Lending Act requires the full disclosure of finance charges and terms with regard to costs associated with borrowing.

Related Terms

  • POS (Point-of-Sale)

    A one time debit entry to the account of a receiver where the entry is initiated at an electronic terminal. POS transactions are generally initiated with a...

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  • Settlement Date

    The date an exchange of funds will be reflected on the books of the Federal Reserve Bank.

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