The __________________, passed in 1968, requires the clear explanation of consumer credit costs and garnishment procedures (taking wages or property by legal means) and prohibits overly high-priced credit transactions.
A) Consumer Credit Expansion Act
B) Credit Growth Act
C) Consumer Credit Protection Act
D) Consumer Safety Act

Question

Quizplus · Accepted Answer

The Consumer Credit Protection Act, or CCPA, passed in 1968, mandates that lenders give consumers clear and accurate information about the cost of credit and their rights in credit transactions. It also limits the amount a borrower can be charged for certain types of loans and sets guidelines for wage garnishment.

The __________________, Passed in 1968, Requires the Clear Explanation of Consumer