Respuesta :
When the buyer credit protection act was passed in 1968 there was about $2.5 trillion worth of credit line outstanding.
What is the Consumer Credit Protection Act of 1968?
- The Consumer Credit Protection Act (CCPA) is a United States law, enacted May 29, 1968, composed of several titles referring to consumer credit, mainly title I, the reality in Lending Act, title II associated with extortionate credit transactions, title III associated with restrictions on wage garnishment, and title IV associated with the National Commission on Consumer Finance.
- The restrictions on wage garnishment guard employees from discharge by their employers because their wages are garnished for any one indebtedness.
- The Wage and Hour Division of the US Department of Labor enforces the provisions.
- The informed use of credit is run by the United States Congress and stabilizes economic acts to be enhanced with competition informed unto various financial institutions that are engaged in extension of consumer credit that would be strengthened otherwise by informed credit use.
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