Under which federal legislation does a consumer have the right to receive a copy of the appraisal report?

The correct answer is associated with the federal legislation that specifically addresses a consumer's right to receive a copy of the appraisal report. Under the Equal Credit Opportunity Act (ECOA), lenders are required to provide a copy of an appraisal report to the consumer promptly after it has been completed. This requirement is in place to ensure transparency in the lending process and allows consumers to understand the value assigned to the property being financed.

The other options refer to different aspects of consumer rights in the lending and real estate process. The Truth in Lending Act (TILA) primarily deals with the disclosure of credit terms and costs, focusing on borrower understanding of the loan terms rather than appraisal reports. The Fair Credit Reporting Act (FCRA) is concerned with the accuracy and privacy of consumer credit information, but it does not specifically address appraisal rights. The Real Estate Settlement Procedures Act (RESPA) primarily focuses on disclosure of settlement costs and procedures in real estate transactions, rather than the provision of appraisal reports.

Thus, the Equal Credit Opportunity Act is clearly designated as the law that grants consumers the right to receive a copy of the appraisal, reinforcing fair lending practices and consumer protection.