How many primary items must be disclosed to a borrower under TILA?

The correct answer reflects the requirement under the Truth in Lending Act (TILA) that mandates lenders disclose certain key pieces of information. Specifically, TILA requires at least four primary disclosures to be provided to borrowers. These disclosures include the loan amount, the annual percentage rate (APR), the finance charge, and the total payments over the life of the loan. These disclosures are critical as they help borrowers make informed decisions about the loan terms, allowing for a clearer comparison of different loan offers.

The focus on these four items emphasizes the importance of transparency in lending practices, helping consumers understand the true cost of borrowing. By ensuring that lenders disclose this vital information, TILA aims to protect consumers from misleading terms and conditions that can often accompany loan agreements.