The CARD Act of 2009 Toned Down the Actions of Credit

question 140

Multiple Choice

The CARD Act of 2009 toned down the actions of credit card issuers by

• A)banning the issuance of credit cards to persons under 18,unless the borrower can show proof that he or she can repay the credit card loans independently.
• B)banning credit card issuers from locating themselves "near campus" (defined as within 50 feet).
• C)banning the issuance of credit cards to persons under 18,unless someone over 25 co-signs on the account.
• D)banning offers of freebies such as free pizza and T-shirts.

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Definitions:

Company

A corporate body set up by a team of people aimed at operating and handling a business operation, which might be focused on commerce or industry.

Working Capital

The difference between a company's current assets and current liabilities, indicating the available capital for day-to-day operations.

Company

A legal entity formed by a group of individuals to engage in and operate a business—commercial or industrial—enterprise.

Earnings Per Share

A financial metric that divides a company’s net income by the number of outstanding shares, indicating the profit earned per share of stock.