Which of the following requires finance charges to be stated as an annual percentage rate?

The requirement for finance charges to be stated as an annual percentage rate (APR) is a fundamental aspect of the Truth in Lending Act (TILA). This law was enacted to promote informed use of consumer credit by requiring disclosures about its terms and costs. By mandating that finance charges be expressed as an APR, TILA helps consumers compare the costs of borrowing from different lenders in a uniform manner, making it easier to assess loan offers against one another.

This requirement aims to ensure transparency in the lending process, enabling borrowers to understand the true cost of a loan over time. The APR includes not just the interest rate, but also other charges and fees that may be associated with the loan, providing a more comprehensive view of what the consumer can expect to pay.

The other acts mentioned do not impose the same specific requirement regarding the disclosure of finance charges as an APR. For instance, the Equal Credit Opportunity Act focuses mainly on prohibiting discrimination in credit transactions, while the Real Estate Settlement Procedures Act is centered on understanding settlement costs in real estate transactions. The Home Mortgage Disclosure Act primarily deals with the reporting of mortgage loan data to inform about lending practices in different communities.