In TILA, which of the following would require a separate disclosure?

The requirement for separate disclosures under the Truth in Lending Act (TILA) is focused on ensuring that consumers are fully aware of all costs and terms associated with their credit transactions. Each of the items listed, including late fees, advanced payment discounts, and credit reporting conditions, can significantly affect a consumer’s understanding of the total cost and implications of their credit agreement.

Late fees are charges that may be incurred for missed payments, and disclosing these upfront is essential for the consumer to assess potential additional costs. Advanced payment discounts provide consumers with incentives for paying off their loans early, and this can impact the overall cost of credit. Lastly, conditions related to credit reporting inform consumers about how their actions might affect their credit scores and future borrowing opportunities.

Since each of these factors plays a crucial role in the overall understanding of credit terms and can influence a consumer's financial decisions, TILA mandates that they be disclosed separately. This requirement promotes transparency and allows consumers to make informed choices regarding their credit agreements. Therefore, recognizing that all of these categories require individual disclosure aligns with TILA’s objectives of clear and complete communication about credit terms.