Final answer:
The Truth in Lending Act protects borrowers by ensuring transparency and preventing unfair lending practices.
Explanation:
The Truth in Lending Act was meant to protect the borrower. This act ensures that borrowers are provided with clear and accurate information about the terms and costs of borrowing money, including the interest rates and fees involved in loans.
This legislation helps prevent unfair lending practices and promotes transparency in financial transactions, empowering borrowers to make informed decisions when taking out loans.
By safeguarding borrowers, the Truth in Lending Act aims to create a more equitable lending environment and protect individuals from deceptive or abusive lending practices.
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