The maximum rate of interest for credit transactions is established by
A)state law.
B)federal law.
C)the Federal Reserve Board.
D)the FTC.

Name: The maximum rate of interest for credit transactions is established by A)state law. B)federal law. C)the Federal Reserve Board. D)the FTC.
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Question

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State law establishes the maximum rate of interest for credit transactions, as interest rates can vary significantly from one state to another based on local legislation.

The Maximum Rate of Interest for Credit Transactions Is Established