Truth-in-lending laws require that

Truth-in-lending laws require that lenders disclose the terms and costs of loans clearly and transparently to borrowers. This includes providing information about interest rates, fees, and the total cost of borrowing, allowing consumers to make informed decisions. The law aims to prevent deceptive lending practices and promote fair competition among lenders. Additionally, it mandates that borrowers receive key information in writing, ensuring they are aware of their obligations before committing to a loan.