Briefly explain the key features of the Consumer Financial Protection Act of 2010
What will be an ideal response?
Title X of the Dodd-Frank Wall Street Reform and Consumer Protection Act is entitled the Consumer Financial Protection Act of 2010. The act is designed to increase relevant disclosure regarding consumer financial products and services and to eliminate deceptive and abusive loan practices. The act is also designed to prevent hidden fees and charges. The new law requires disclosure of relevant information to consumers in plain language that permits consumers to understand the costs, benefits, and risks associated with consumer financial products and services. The act requires that credit card companies provide calculators that give the payoff terms under different scenarios, such as if only minimum payments are made or the payments that are needed to pay the balance off in one year and such. Other provisions limit fees for using debit cards to be reasonable and proportional to the cost incurred in processing the payment.
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Lack of any generally accepted fundamental values for the organization is a clear sign of a "toxic" culture.
Answer the following statement true (T) or false (F)
The term greenwashing refers to ______.
a. a superficial claim to green practices b. painting objects green as a way to demonstrate commitment to sustainability c. a genuine commitment to sustainability d. a genuine commitment to environmental conscientiousness
What is the customer service objective that involves ensuring customers can depend on receiving a good or service within a stated lead time and that there will be no problems with the order?
A. timeliness B. consistency C. order D. ease of doing business E. reliability
The _____ is an asset management ratio that measures how quickly a firm sells its stock to generate revenue.
A. current ratio B. inventory turnover ratio C. debt ratio D. working capital turnover ratio