Question

Amy notices that her credit card company has charged too high an interest rate for delayed payment this month. Which law protects her from this issue? A. Fair Debt Collection Practices Act B. Identity Theft and Assumption Deterrence Act C. Magnuson-Moss Warranty Act D. Fair Credit Reporting Act E. Credit Card Accountability, Responsibility and Disclosure Act

Answer 1

D . Fair Credit Reporting Act

Answer 2

Answer:

The correct answer is A. Fair Debt Collection Practices Act

Step-by-step explanation:

The purpose of this law is to eliminate abusive debt collection practices by lenders with whom you acquire debt. Ensuring that debt collectors who refrain from abusive debt collection practices are not at a competitive disadvantage vis-à-vis other entities and ultimately being able to promote consistent state actions to protect consumers from abusive debt collection with high-interest rates.

By charging a high-interest rate on card charges owed, the credit card company is violating the law.

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