Understanding Loan Disclosure Requirements After June 2019

If you’re considering taking out a loan over $100,000, there’s an important rule change you need to be aware of. Since June 20, 2019, a proactive disclosure of these larger loans has been required. But what exactly does this mean for you?

This rule is designed to enhance transparency and accountability in financial dealings. Simply put, if you’ve got a loan that exceeds this amount, you’ll need to ensure that it's disclosed properly. It’s all about compliance and keeping things clear!

Whether you’re planning to move abroad, invest, or just need a substantial loan, understanding these rules can save you a lot of headache down the road. Stay informed and take control of your financial future!