Dian Takes Out a Loan from Equity Bank

question 30

Multiple Choice

Dian takes out a loan from Equity Bank. When she fails to make the scheduled payments, Equity advises her of further action that it will take. This violates

• A) no federal law.
• B) the Fair and Accurate Credit Transactions Act.
• C) the Fair Debt Collection Practices Act.
• D) the Truth-in-Lending Act.

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Definitions:

Analysis Stage

A phase in the problem-solving process or project development where data is carefully examined and interpreted to guide decision-making.

Direct Conversion

Implementation process in which the old system is cut off and the new system is turned on at a certain point in time.

Old System

An outdated or legacy technology system that is often in need of replacement or upgrade.

New System

A recently developed or implemented set of components designed to function together to achieve specific objectives.