Identify the statement as true or false. The Truth in Lending Act requires lenders to penalize borrowers for early payoff of loans. Question content area bottom Part 1 Choose the correct answer below. A. The statement is false; lenders are not penalized for early payoff of loans. B. The statement is true; lenders are penalized for early payoff of loans. C. The statement is false; lenders are not required to penalize borrowers for early payoff of loans. D. The statement is true; lenders are required to penalize borrowers for early payoff of loans