24.4k views
3 votes
Government regulations on credit aim to

User Codingbiz
by
7.7k points

2 Answers

2 votes
Help borrowers pay on time
User Dave Loepr
by
8.1k points
2 votes

The answer is: educate lenders about consumers.

Government regulations on credit are made in order to create restriction regarding the loan practices that created by credit provider. (such as setting up maximum interest rates that can be given to customers).

This would educate lenders about what they can and cannot do to the customers and protect customer's interest.

User Peter Harrison
by
7.9k points