According to the Truth-in-Lending Act, if any "trigger terms" are used in an advertisement, all of the following disclosures must be included EXCEPT?

The Truth-in-Lending Act (TILA) requires the disclosure of specific information in advertisements when certain "trigger terms" are mentioned. Trigger terms include specifics about the loan such as the amount, terms, or rate. When these terms are used, the lender must provide clear and accurate disclosures to help consumers understand the financial implications of the loan being advertised.

In this context, the correct focus is on what must be included. The requirements under TILA state that if trigger terms are used, the advertisement must disclose the annual percentage rate (APR), the total loan amount, the monthly payment amount, and the details of the loan terms. Prepayment penalties and rebates, however, are not mandated disclosures if trigger terms are included; while they are important to disclose generally, they are not a specific requirement directly tied to the inclusion of trigger terms.

This distinction clarifies why prepayment penalties and rebates do not need to be included in advertisements using trigger terms, making it the exception among the choices listed. Prior to advertising, it’s essential for lenders to be aware of what must be disclosed to ensure compliance and protect consumer rights.