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Truth in lending law

Definition

Legislation governing the granting of credit, that requires lenders to disclose the true cost of loans and the actual interest rates and terms of the loans in a manner that is easily understood.

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Copyright © 2011 Campbell R. Harvey, Professor of Finance, Fuqua School of Business at Duke University


Term of the Day

Managing underwriter
The leading firm in an underwriting group, which originates the deal and acts as an agent for the group.

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