Can I read RA 3765: Truth in Lending Act Overview on EtoBox?
RA 3765: Truth in Lending Act Overview by Emil Bautista is a document available to read on EtoBox.
What is RA 3765: Truth in Lending Act Overview about?
The Truth in Lending Act (RA 3765) aims to protect Philippine citizens from a lack of awareness of the true cost of credit by requiring full disclosure of finance charges. It defines key terms like "credit", "finance charge", and "creditor". Creditors must provide customers a clear written statement prior to any credit transaction disclosing the cash price, down payment, amount financed, finance charge amount and percentage rate, and other details. Violations can result in penalties up to P2,000 per transac
- Author
- Emil Bautista
- Language
- EN