Truth in lending regulations require financial institutions, Ask an Expert

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Truth in lending regulations require financial institutions to disclose a loan's APR. The APR for many payday or title loans is extremely high. Given these high rates, several states have passed laws capping the potential rate that can be charged for these loans.

What are the pros and cons of these regulations? Why are they passed? Do they accomplish their intended purpose? Are there any unintended consequences from these regulations?

Specifically the state of Florida's Regulations.

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92870044

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