Bus Law 4.01

Joan is concerned she will be turned down for a loan because she is a single female. What law protects her against this concern?

• Equal Credit Opportunity

• Fair Credit Billing Act

• Fair Credit Reporting Act

• Fair Debt Collections Act

Danielle applied for a position with the FBI. She has the right to know that they viewed her credit history while checking her background. This right is granted by which act?

• Credit Card Act of 2009

• Usury law

• Truth In Lending Ac

• Fair Credit Reporting Act

Jason lost his credit card while on a recent trip. Which act will limit his liability?

• Federal Deposit Insurance Act

• Electronic Funds Transfer Act

• Thrift and Bank Fraud Act

• Home Equity Loan Consumer Protection Act

Tammy obtained a loan with an interest rate of 39.99% from a bank. Which law did this financial institution violate?

• Credit Card Act of 2009

• Usury law

• Truth In Lending Act

• Fair Credit Reporting Act

VISA increased Jimmy’s interest rate from 10.99% to 15.99% without notifying him of this change in writing. Which law did VISA violate?

• Credit Card Act of 2009

• Usury law

• Truth In Lending Act

• Fair Credit Reporting Act

Kristin obtained a loan from a bank, but she never received a statement telling her repayment terms and the annual percentage rate. Which law did this financial institution violate?

• Credit Card Act of 2009

• Usury law

• Truth In Lending Act

• Fair Credit Reporting Act

Bart has no chance of getting out of debt and needs to liquidate all his belongings to pay creditors. Bart should file for which type of bankruptcy?

• Chapter 7

• Chapter 11

• Chapter 12

• Chapter 13

Catherine has $175,000 in an account at Bank of America. Which act protects her account if the bank fails?

• Federal Deposit Insurance Act

• Electronic Funds Transfer Act

• Thrift and Bank Fraud Act

• Home Equity Loan Consumer Protection Act

Janet stole money from several different checking accounts. She had to pay a $5,000 fine and spent five years in prison. Janet violated which act?

• Federal Deposit Insurance Act

• Electronic Funds Transfer Act

• Thrift and Bank Fraud Ac

• Home Equity Loan Consumer Protection Act

Jan’s landlord threatens to report unsubstantiated debts on her credit. What law protects Jan against this concern?

• Equal Credit Opportunity Act

• Fair Credit Billing Act

• Fair Credit Reporting Act

• Fair Debt Collections Act