Regulation C implements theFair Credit Reporting Act.Truth in Lending Act.Community Reinvestment Act.Home Mortgage Disclosure Act.

Which credit protection law requires credit bureaus to maintain an accurate reporting of your credit?A.The Truth in Lending ActB.The Fair Debt Collection Practices ActC.The Fair Credit Reporting ActD.The Equal Credit Opportunity ActSUBMITarrow_backPREVIOUS

What is the expansion of CFR?a.Code of federal regulationsb.Community-friendly relationsc.Consolidated fiscal reportingd.Community forest rights

Consumer Regulation Compliance ◼ National Consumer Credit Protection Act 2009 (Cth) became law ◼ Includes the National Credit Code (NCC) ◼ The National Credit Code (NCC) was formerly the Uniform Consumer Credit Code ◼ Lenders must disclose key information (all fees and charges) ◼ All providers of consumer credit must be licensed with ASIC 25 Australian Financial Complaints Authority (AFCA) ◼ Free independent external dispute resolution service for financial products and services, including loans ◼ Exclude disputes over interest rates, fees, granting or declining of credit, disputes already subject in other proceedings (e.g. in court) ◼ Not binding: either party can take legal action 26 Code of Banking Practice ◼ All banks subscribe to the Code of Banking Practice ◼ Outlines what customers should expect in terms of good banking service ◼ Formalises standards of disclosure and conduct ◼ Requires banks to have internal dispute resolution procedures in place

Law that regulate the marketsa.The Companies Act,2013b.The Depositories Act,1996c.Securities Act of 1933d.All of the above

Column A1.Regulates the collection, dissemination and use of consumer credit information.:Regulates the collection, dissemination and use of consumer credit information.2.A law that sets requirements for billing disputes.:A law that sets requirements for billing disputes.3.Must show how long it will take to pay your balance off if you make only the minimum payment.:Must show how long it will take to pay your balance off if you make only the minimum payment.4.Protects consumers from abusive threats, obscenities, and false and misleading statements to intimidate the consumer into paying are not allowed.:Protects consumers from abusive threats, obscenities, and false and misleading statements to intimidate the consumer into paying are not allowed.5.Cannot be discriminated against based on gender, race, color, age, marital status, religion, and national origin.:Cannot be discriminated against based on gender, race, color, age, marital status, religion, and national origin.Column Ba.Fair Credit Reporting Actb.Fair Debt Collection Practices Actc.Fair Credit Billing Actd.Credit Card Accountability Responsibility and Disclosure Acte.Equal Credit Opportunity Act