Question

What

consumer credit protection laws passed in 1968 can be found and
what examples can be given?

Answer 1

The consumer credit protection laws passed in 1968 include the Truth in Lending Act (TILA) and the Fair Credit Reporting Act (FCRA). The TILA requires lenders to disclose key terms and costs of credit to borrowers, ensuring transparency and preventing deceptive practices. The FCRA regulates the collection, accuracy, and privacy of consumer credit information by credit reporting agencies.

Step-by-step explanation:

The consumer credit protection laws passed in 1968 include the Truth in Lending Act (TILA) and the Fair Credit Reporting Act (FCRA). The TILA requires lenders to disclose key terms and costs of credit to borrowers, ensuring transparency and preventing deceptive practices. The FCRA regulates the collection, accuracy, and privacy of consumer credit information by credit reporting agencies.

Examples of these laws in action include:

1. Under the TILA, when you apply for a loan, the lender must inform you of the annual percentage rate (APR), finance charges, and total amount you will have to repay.
2. The FCRA grants consumers the right to access their credit reports, dispute inaccurate information, and protect their privacy