To Avoid High Fees for Loans, a Person Should Not

question 45

Multiple Choice

To avoid high fees for loans, a person should not borrow from a

• A)credit union.
• B)savings and loan association.
• C)pawnshop.
• D)commercial bank.
• E)mutual savings bank.

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Definitions:

Deceptive Omissions

Misleading practices involving the withholding of important information or details that could influence a consumer's purchasing decision.

Puffing Statements

Exaggerated or hyperbolic claims about a product or service, considered opinion rather than fact, and not legally binding.

Opinion Statements

Statements that express beliefs, judgments, or assessments rather than objective facts, often used in legal contexts to distinguish them from factual representations.

FTC Act

The Federal Trade Commission Act, a statute that established the Federal Trade Commission (FTC) and empowers it to regulate unfair or deceptive commercial practices.