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

  • Auxiliary On-Us Field

    A field on the magnetic ink character recognition (MICR) line of a check or share draft. This is an optional field that can be found to the...

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  • Merchant Account

    An account opened through a payment processor or financial institution that allows payees to accept credit card payments from a payer.

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