Which statement is true regarding the APR?

The statement that the APR must be disclosed in writing is correct because the Annual Percentage Rate (APR) is designed to provide a clear and comprehensive measure of the cost of borrowing. By requiring disclosure in writing, lenders affirm their commitment to transparency and help borrowers understand the total cost related to interest and fees associated with a loan or credit product. This regulation is in line with the Truth in Lending Act (TILA), which mandates that APR is disclosed to allow borrowers to make informed comparisons between different loan offers.

This requirement helps to protect consumers by ensuring that they receive essential information about the terms of their loans upfront, fostering better financial decisions. The other options are not aligned with the standard practices surrounding APR disclosure.