Regulation Z provides specific rules for calculating some of the items required on certain disclosures, specifically the annual percentage rate. It also allows for certain tolerances of error. This course will discuss the details of calculating the annual percentage rate, including defining finance charges used to calculate the APR.
- Know what is meant by finance charge and what is included
- Know what is meant by annual percentage rate
- Know the tolerances for finance charges and APR
- Understand when restitution for inaccurate disclosure is required
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