Which federal law mandates lenders to provide a written disclosure of the annual percentage rate on consumer loans?

The Truth-in-Lending Act (TILA) is the federal law that requires lenders to provide clear and concise disclosures regarding the terms of consumer loans, including the annual percentage rate (APR). This law is crucial in helping consumers understand the cost of borrowing and enables them to make informed decisions when comparing different lending options. By mandating the disclosure of the APR, TILA aims to promote transparency and prevent deceptive lending practices.

The other options do have their respective roles in consumer protection and finance. For instance, the Fair Credit Reporting Act regulates the collection, dissemination, and use of consumer credit information, while the Equal Opportunity Credit Act focuses on preventing discrimination in lending practices. The Federal Trade Commission Act addresses unfair or deceptive acts in commerce, including certain aspects of consumer protection. However, none of these laws specifically address the requirement for lenders to disclose the annual percentage rate on consumer loans, which is the primary purpose of the Truth-in-Lending Act.