Consumer Protection Agencies Practice

Which agency regulates the stock market to prevent fraud and protect investors?

• Securities and Exchange Commission (SEC)

• Federal Deposit Insurance Corporation (FDIC)

• Better Business Bureau (BBB)

• Federal Trade Commission (FTC)

What is the primary role of the Better Business Bureau (BBB)?

• To help consumers find trustworthy businesses and resolve disputes

• To regulate the stock market

• To enforce laws against deceptive advertising

• To insure bank deposits

Which law protects consumers from abusive or unfair debt collection practices?

• Truth in Lending Act (TILA)

• Fair Debt Collection Practices Act (FDCPA)

• Fair Credit Reporting Act (FCRA)

• Dodd-Frank Act

What does the Federal Deposit Insurance Corporation (FDIC) do?

• Protects the privacy of consumer credit reports

• Regulates the stock market

• Insures bank deposits up to $250,000

• Enforces laws against deceptive advertising

Which act ensures that consumers receive clear information about the costs of borrowing money?

• Fair Housing Act

• Truth in Lending Act (TILA)

• Dodd-Frank Act

• Fair Credit Reporting Act (FCRA)

What is an example of an unfair business practice?

• Using bait-and-switch tactics

• Offering free shipping on orders over $50

• Providing a warranty for a product

• Offering a product at a discounted price

Which agency enforces laws against deceptive advertising and unfair business practices?

• Better Business Bureau (BBB)

• Federal Deposit Insurance Corporation (FDIC)

• Securities and Exchange Commission (SEC)

• Federal Trade Commission (FTC)

What does the Fair Credit Reporting Act (FCRA) protect?

• The regulation of the stock market

• The accuracy and privacy of information in consumer credit reports

• Consumers from unfair debt collection practices

• Consumers from false advertising

Which act makes it illegal to discriminate when renting or selling housing?

• Truth in Lending Act (TILA)

• Fair Debt Collection Practices Act (FDCPA)

• Dodd-Frank Act

• Fair Housing Act

What is the purpose of the Dodd-Frank Act?

• To protect the privacy of consumer credit reports

• To insure bank deposits

• To prevent another financial crisis by increasing regulation of banks

• To enforce laws against deceptive advertising