Question

Scarlett is unable to repay her loan on time due to some personal problems. She informs the financial institution and asks for some more time to repay the loan. However, the financial institution sends its agents to Scarlett’s office. These agents insult her in public. Which law has the financial institution violated?

Fair Credit Reporting Act
Credit Card Accountability, Responsibility and Disclosure Act
Fair Debt Collection Practices Act
Identity Theft and Assumption Deterrence Act

Answer 1

Answer: The financial institution has violated the Fair Debt Collection Practices Act.

Step-by-step explanation:

Answer 2

The financial institution has violated the Fair Debt Collection Practices Act.

Step-by-step explanation:

The Fair Debt Collection Practices Act was adopted on September 20, 1977, establishing legal protection against unfair methods of debt collection, aimed at eliminating unseemly methods of collecting consumer debt, encouraging fair collection activities, providing consumers with opportunities to dispute the debt and request verification to confirm the correctness of information on existing debt.