Do all advertisements of real estate brokers that contain real estate credit terms come under the Truth in Lending Act?
Understand the Problem
The question is asking whether advertisements by real estate brokers that include credit terms are covered by the Truth in Lending Act, specifically in relation to Regulation Z. It is seeking clarity on the applicability of Regulation Z to such advertisements.
Answer
No, there are exceptions to Regulation Z.
The final answer is C, no, there are exceptions to Regulation Z.
Answer for screen readers
The final answer is C, no, there are exceptions to Regulation Z.
More Information
Regulation Z, under the Truth in Lending Act, applies to advertisements with specified credit terms. However, there are exceptions, such as loans for business purposes or existing financing, which are not covered.
Tips
A common mistake is assuming all credit-related advertisements are covered, but business loans and existing financing are exceptions.
Sources
- TRUTH IN LENDING AND THE ADVERTISING ... - NCREC Bulletins - bulletins.ncrec.gov
- Understanding Regulation Z's Advertising Requirements - consumercomplianceoutlook.org
- § 1026.24 Advertising. | Consumer Financial Protection Bureau - consumerfinance.gov
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