For the Most Part, Credit Card Companies Can Charge High

question 12

True/False

For the most part, credit card companies can charge high fees, raise rates, and lower credit limits without violating the law.

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Definitions:

Segregating

The act of separating or setting apart from others or from the main body or group.

Implied Authority

Power not explicitly granted by a principal to an agent but deemed necessary to carry out expressly authorized duties.

Enforce Claims

The act of legally pursuing or demanding rights or commitments that have been agreed upon or are owed.

Apparent Authority

Apparent authority refers to a situation where someone appears to have, and reasonably is perceived by third parties to have, authority to act on behalf of another (the principal), even if such authority has not been formally granted.