Which of the following loans would be subject to the Truth in Lending Act?

A. A loan to a first-time home buyer
B. A loan to a homeowners association
C. A loan to a residential subdivision developer
D. A loan to buy a 20-unit apartment complex

Answer: A. A loan to a first-time home buyer
The truth in lending act applies to consumer loans. It doesn't cover loans for business, commercial, or agricultural purposes, or loans to corporations or other organizations.

Business

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