Which Federal Consumer Credit Law Allows Consumers to Withhold Payment

question 146

Multiple Choice

Which federal consumer credit law allows consumers to withhold payment for faulty or defective goods or services when purchased with a credit card?

• A)Truth in Lending Act
• B)Fair Credit Reporting Act
• C)Fair Credit Billing Act
• D)Equal Credit Opportunity Act
• E)Fair Debt Collection Practices Act

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Definitions:

Highly Educated

Refers to individuals who have received a high level of education, usually at least a university degree.

Stock

A form of security that indicates the holder has proportionate ownership in the issuing corporation.

Dividends

These are distributions of a portion of a company's earnings, decided by the board of directors, to a class of its shareholders.

Shareholders

Individuals or entities that own shares in a corporation, thus having an interest in its performance and profitability.