Question

Consumer credit laws have been implemented over the years to protect consumers against creditor abuses. Match the following consumer credit issues with the appropriate consumer credit law: a. Controls debt collection procedures and practice. b. Prohibits credit discrimination because of race, age, or national origin. c. Establishes the APR and requires the disclosure of all credit-related costs. d. Requires credit contracts to be written in plain English. e. Requires a "rejection letter" or written explanation of any adverse action taken. f. Limits marketing of credit cards to the mailing of application packets and prohibits the mailing of unrequested credit cards. q. Allows payment for defective goods purchased with a credit card to be legally withheld. h. Limits fraudulent card use to $50 payment by the cardholder. 1. Ensures that divorced individuals can receive credit. J. Provides annual access to one free credit report from each of the major credit bureaus. k. Reduces credit card late fees to $25. a. Which of the Consumer Credit Laws governs the following consumer credit issue: Controls debt collection procedures and practice? (Select the best answer below.) mAf bf-23E O A. Fair and Accurate Credit Transactions Act (FACT Act) of 2003. OB. Fair Debt Collection Practices Act of 1978. OC. Truth in Lending Act (amended in 1982). OD. Truth in Lending Act of 1968. O E. Equal Credit Opportunity Act of 1975.

Answer 1

Option B

Fair debt collection practices Act of 1978 (FDCPA)

Mostly this act covers credit card , mortgage, auto loans medical bills, student loans,, and other household debts but it doesnt include business debts