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Cost of Borrowing (Banks) Regulations

Version of section 20 from 2006-03-22 to 2009-12-31:


 A bank that advertises a loan involving a line of credit in an advertisement that makes a representation of the annual interest rate, or the amount of any payment or of any non-interest charge, in relation to the loan must disclose the annual rate of interest on the date of the advertisement and any initial or periodic non-interest charges at least as prominently as the representation and in the same manner, whether visually or aurally, or both.


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