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

  • BOC (Back Office Conversion)

    A BOC entry is a one time debit entry to the account of a receiver whom has, at the point of purchase, been notified that their check...

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  • EFT (Electronic Funds Transfer)

    The electronic exchange or transfer of money from one account to another, either within a single financial institution or across multiple institutions, through computer-based systems.

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