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

  • Contact-Free Payment

    Contact-free payments are transactions processed in a manner that removes the physical interaction between the purchaser and the merchant.  A contract-free payment can be accomplished through a...

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  • VAR Sheet

    A VAR Sheet is a file containing information, such as merchant account information, bank account information, processor information, etc. This file is typically given to a payment...

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