Question: I have completed a question on consumer protection failures. Am I correct? 7. Consumer Protection and Failures In 1977, President Carter signed into law the
I have completed a question on consumer protection failures.
Am I correct?
7. Consumer Protection and Failures In 1977, President Carter signed into law the Community Reinvestment Act (CRA). Which of the following accurately describes the intent of this act? To mandate lenders to explicitly state the APR being charged on the loan and explain how much interest will be paid on the lon To ensure that banks that want to merge or expand can demonstrate that they are lending and providing financial services to people across their geographical area To mandate credit bureaus to report only accurate information and let people know what is in their credit report and correct errors To increase the amount of consumer protection in financial markets Which of the following is a common criticism of the Community Reinvestment Act? Check all that apply. Continuing presence of redlining in urban and minority areas Credit reports increasingly being used in the employment process The burdensome and expensive certification documentation The threat of government overreach
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