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

  • Discount Rate

    Merchants are charged a fee for the processing services that enable them to accept cards as payment. This fee, called the "merchant discount” or "discount rate,” is...

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  • OCR (Optical Character Recognition)

    A technology that enables you to convert different types of documents into editable and searchable data.

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