The Purpose of Regulation Z Is to

question 103

Multiple Choice

The purpose of Regulation Z is to

• A) make consumers aware of the costs of alternative forms of credit.
• B) prohibit garnishment.
• C) encourage depository institutions to help meet the credit needs of their communities for housing and other purposes.
• D) regulate the overseas activities of member banks of the Federal Reserve System.

---

Definitions:

Article 3

Refers to a segment or section within a larger document, such as a constitution or statute, that addresses a specific topic.

UCC

The Uniform Commercial Code is an extensive collection of regulations that oversee every commercial transaction across the United States.

Electronic Negotiable Instruments

Financial instruments that are signed electronically and promise to pay a certain sum of money to the bearer or assigned party.

Money Order

A type of draft that may be purchased from banks, post offices, telegraph companies, and express companies as a substitute for a check.