NMLS Ethics Practice Test Questions

What does TILA do in combating unethical lending practices?

A lender charges higher interest rates to applicants because of low credit scores. When the lender acts in the best interests of the client but will excuse themself in a conflict of interest. TILA prevents unethical and unfair account charges by requiring fees to be clearly disclosed and banning many junk fees. All of the above.

Correct Answer:

TILA prevents unethical and unfair account charges by requiring fees to be clearly disclosed and banning many junk fees.

Explanation:

Correct answer: TILA prevents unethical and unfair account charges by requiring fees to be clearly disclosed and banning many junk fees.

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