A primary purpose of the federal Consumer Credit Protection Act is to
A)require creditors to specify how finance charges are computed.
B)grant certain rights to credit applicants regarding credit reports.
C)inform consumers about all forms of credit available to them.
D)specify what information a customer's employer can release about him/her.

Question

Quizplus · Accepted Answer

The federal Consumer Credit Protection Act requires creditors to specify how finance charges are computed, as well as providing other consumer protections in the credit industry. While certain rights are granted to credit applicants regarding credit reports under other laws, the primary focus of this act is on finance charges. The act also does not specifically inform consumers about all forms of credit available to them, nor does it address what information a customer's employer can release about them.

A Primary Purpose of the Federal Consumer Credit Protection Act