Which of the following statements is true for gift cards?
A) The cards are subject to Truth in Lending Act (TILA) regulations.
B) Recipients have 2 years to use the cards.
C) A fee can only be assessed if the card has not been used within 6 months.
D) A fee can only be assessed on the card if a customer is first notified of the fees.
Correct Answer:
Verified
Q1: The Federal Trade Commission (FTC):
A) has authority
Q2: The Federal Trade Commission does not prohibit
Q5: The Holder in Due Course rule creates
Q6: The Federal Trade Commission requires used car
Q8: Only civil penalties are imposed on those
Q9: The Telemarketing and Consumer Fraud and Abuse
Q9: The Federal Trade Commission has legal authority
Q10: The Equal Credit Opportunity Act prohibits discrimination
Q11: The rules of the Federal Trade Commission
Q12: The Credit Card Accountability and Disclosure Act
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