All of the following statements are correct regarding the consumer credit protection act, except:
A. The act was designed to give borrowers the ability to shop wisely for credit.
B. Borrowers must be shown the actual amount paid for credit in percentage form called the annual percentage rate APR.
C. Borrowers must be given three working days to resend loan.
D. The act was implemented by the board of governors of the Federal Reserve system through regulation b.
Answer: D. The act was implemented by the board of governors of the Federal Reserve system through regulation b.
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