Based on existing rules and regulations, the Truth in Lending Act and Truth in Savings Act provide specific guidelines regarding minimum identification requirements for clients who complete applications for financial products.
The United States government explicitly made the Truth in Lending Act & Truth in Savings Act to enable customers or citizens to make informed financial decisions precisely when making applications for financial products.
It also requires financial institutions like banks to provide to consumers disclosures on terms and costs relating to deposit accounts, savings, and lending.
Hence, in this case, it is concluded that the correct answer is "Truth in Lending Act and Truth in Savings Act."
Learn more about the Truth in Savings Act here: https://brainly.com/question/21714367
