(Last Word) Late Payment Fees and Overdraft Protection

question 39

Multiple Choice

(Last Word) Late payment fees and overdraft protection

• A) are illegal under the Truth in Lending Act.
• B) do not have to be reported under the provisions of the Truth in Savings Act.
• C) effectively charge high rates of interest on loans to bank customers.
• D) are unrelated to interest rates because they are fees.

---

Definitions:

Legal Documents

Official papers that capture agreements, understandings, or obligations with legal significance, such as contracts, wills, or deeds.

Public Documents

Official records or writings accessible to the general public, created by government agencies or entities.

Statutes

Statutes are written laws enacted by a legislative body at the federal, state, or local level, governing the behavior of individuals and organizations within their jurisdiction.

Google Scholar

A freely accessible web search engine that indexes the full text or metadata of scholarly literature across an array of publishing formats and disciplines.