Abusive Acts and Consumer Protection Laws Quiz

An act that does not interfere with a consumer's ability to understand a term or condition of a consumer financial product or service

An act that interferes with a consumer's ability to understand a term or condition of a consumer financial product or service (correct)

An act that allows a consumer to protect his or her interests in selecting or using a consumer financial product or service

An act that takes reasonable advantage of a consumer's understanding of the material risks, costs, or conditions of the product or service

Take reasonable advantage of a consumer's understanding of the material risks, costs, or conditions of the product or service

Allow a consumer to protect his or her interests in selecting or using a consumer financial product or service

Not interfere with a consumer's ability to understand a term or condition of a consumer financial product or service

Materially interfere with the ability of a consumer to understand a term or condition of a consumer financial product or service (correct)

Yes, they are considered the same thing under Dodd-Frank

It depends on the specific act or practice in question

Only if the act or practice interferes with a consumer's ability to understand a term or condition of a consumer financial product or service

No, each prohibition is separate and distinct and are governed by separate legal standards (correct)