Finance charge

The total cost of borrowing money, expressed in dollars — including interest plus any additional fees the lender charges (such as service fees or loan origination fees). U.S. lenders are required under the Truth in Lending Act to clearly disclose the finance charge and the related Annual Percentage Rate (APR) so borrowers can compare loan offers on equal footing.

Related terms

Charge Credit

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Category: Lending_and_Credit Starting With: F