What is another name for full disclosure in financing?

Full disclosure in financing refers to the practice of providing all relevant information regarding financial terms, conditions, and obligations to consumers, which ensures they are fully aware of what they are agreeing to. The term "truth in lending" specifically pertains to laws and regulations that require lenders to disclose loan terms, interest rates, and the total costs associated with borrowing. This is crucial for protecting consumers from misleading or deceptive lending practices.

While "full transparency," "complete understanding," and "honesty in finance" imply a commitment to clarity and openness, they do not carry the specific legal and regulatory implications that "truth in lending" does. Thus, the phrase most commonly associated with the legal expectation for lenders to provide full and clear information about loan products is "truth in lending." This term is rooted in consumer protection laws designed to promote informed decision-making for individuals entering into financial agreements.