Final answer:
The Fair Debt Collection Practices Act of 1996 primarily C) protects consumers from unethical debt collection practices, disallowing collectors from contacting debtors at inappropriate times or misrepresenting their identity.
Step-by-step explanation:
The Fair Debt Collection Practices Act (FDCPA) of 1996 is a federal law that aims to protect consumers from unethical collection procedures. Among other provisions, it restricts the times during which debt collectors may contact debtors, prohibits the use of deceptive or abusive tactics, and provides consumers with the right to dispute and obtain validation of debt information. Therefore, the correct answer to the question is (C) Protects the public from unethical collection procedures. It is important to note that this Act does not permit debt collectors to call at any time (contradicting option A), falsely represent themselves as government agencies (contradicting option B), nor does the FDCPA primarily protect businesses on past-due accounts (contradicting option D). Instead, it offers substantial protection to the consumers. In relation to the Consumer Financial Protection Bureau (CFPB), while it was created in 2011 and not directly related to the 1996 Act, it is responsible for overseeing and enforcing fair practices in the collection and other financial industries.