Which one of the following statements is NOT true?
A) The Truth-in-Lending Act was passed by Congress to ensure that the true cost of credit was disclosed to consumers.
B) The Truth-in-Savings Act was passed to provide consumers an accurate estimate of the return they would earn on an investment.
C) The above two pieces of legislation require by law that the APR be disclosed on all consumer loans and savings plans.
D) All of the above are true statements.
Answer: D
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