TECHNOLOGYS ETHICAL LEGAL PRIVACY ISSUES
PROTECTING CONSUMER PRIVACY ONLINE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Kamilla notices that her credit card company has charged too high an interest rate for delayed payment this month. Which law protects her from this issue?
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Credit Card Accountability, Responsibility and Disclosure Act
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Fair Credit Reporting Act
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Magnuson-Moss Warranty Act
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Fair Debt Collection Practices Act
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Identity Theft and Assumption Deterrence Act
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Explanation:
Detailed explanation-1: -The billing cycle is the period between the closing dates of two consecutive bills. Your payment due date will be generally 15–25 days after your billing cycle ends.
Detailed explanation-2: -Add-on credit card: The liability of repayment is on the primary cardholder. The new RBI directions on credit cards highlighted that add-on credit cards must be issued with a clear understanding that the liability will be that of the principal or the primary cardholder.
Detailed explanation-3: -The legal action taken against credit card defaulters in India includes filing a civil suit in court, initiating criminal proceedings, or making use of debt recovery tribunals. This may result in imprisonment or a fine, or both.
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