Question

Which regulations do credit card companies have to follow? Check all that apply.

1) They have to make all credit terms clear to the borrower.

2)They have to accept any borrower who applies for a credit card.

3) They are not allowed to change annual fees or interest rates.

4) They have to obtain a borrower’s information in a responsible way.

5) They cannot discriminate based on race, gender, or national origin.

6) They have to avoid abusive marketing practices and protect privacy.

Answer 1

The regulations that credit card companies have to follow are: 1) They have to make all credit terms clear to the borrower. They have to provide a client with all the information that refers to the deal of giving a credit to make sure that a client is acknowledged with his/her rights and duties.

4) They have to obtain a borrower’s information in a responsible way. They have to pay attention to all the wishes of a borrower because it indicates that their professional approach is a high-level one. In other words, they have to offer a personal approach to every client looking for such a help.
5) They cannot discriminate based on race, gender, or national origin. It is not professional. It does not matter where a client came from, a really professional company would treat any client as its special customer. Everybody coming to them must be treated equally well.

Answer 2

the correct answers are 1, 4, 5, 6! i just took the test :)