Reference no: EM132245028

1. All but which of the following is a fear associated with the Consumer Financial Protection Bureau’s role in the finance market?

A. Increased government regulation is likely to reduce the availability of credit.

B. Increased government regulation is likely to increase the cost of credit.

C. Increased government regulation can potentially damage consumers and the economy.

D. Increased government interference will increase consumer spending.

2. If a consumer claims that his or her credit file contains inaccurate information, the concerned credit reporting agency (CRA) must investigate the complaint and give the consumer a written report.

Ture/False

3. Which of the following is true of lemon laws?

A. A consumer generally may file a lawsuit if he or she disagrees with the decision of an arbitration panel as to whether a car is a lemon.

B. Arbitration panels determine whether the car is a lemon, and this decision may not be appealed to a court.

C. Lemon laws are the same for all states except Louisiana.

D. The vehicle must have been unavailable to the consumer for a total of at least 60 days in a 6-month period.