Essay on Reforming Credit Laws - 1435 Words

Credit allows consumers to finance transactions without having to pay the full cost of the merchandise at the time of the purchase. A common form of consumer credit is a credit card account issued by a financial institution. Merchants may also provide financing for products which they sell. Banks may directly finance purchases through loans and mortgages. Consumers imperatively rely on credit, so it is necessary that credit laws help protect the consumer. I will discuss some of the major credit laws that impact the consumer, examine whether these laws are working, and talk about possible changes that might be needed to make sure the consumer is rightly protected. The law of consumer credit is primarily embodied in federal and state†¦show more content†¦(â€Å"About the Federal Trade Commission†) The FTC’s work is performed by the Bureaus of Consumer Protection, Competition and Economics. The body of the Bureau of Consumer Protection was created to protect consumers against unfair, deceptive or fraudulent practices in which it enforces a variety of consumer protection laws enacted by Congress. It protects consumers obtaining credit to finance their transactions, ensures that adequate credit is provided, and governs the credit industry in general. Congress passed the Consumer Credit Protection Act, in part, to regulate the consumer credit industry, requiring creditors to disclose credit terms to consumers. The Consumer Credit Protection Act also protects consumers from loan sharks, restricts the garnishing of wages, and established the National Commission on Consumer Finance to investigate the consumer finance industry. Credit card companies, credit reporting agencies, and certain debt collectors are regulated by the Act. The Act also prohibits discrimination based on s ex or marital status in extending of credit. Even with these acts there to protect consumers from obtaining bad credit, there still are complaints about lenders that are non-compliant in their credit agreements. In 1974, the Consumer Credit Protection Act stated that borrowers couldShow MoreRelatedReducing The Value Of Excise Expenditure1481 Words   |  6 Pagesfederal spending.1 Tax expenditures are defined under the Congressional Budget and Impoundment Control Act of 1974 as revenue losses attributable to Federal tax laws which allow a special exclusion exception, or deduction or which provide a special credit, a preferential rate of tax, or a deferral of tax liability.†2 Exclusions, deductions, credits and other tax preferences are â€Å"expenditures† from government’s perspective. See Figure 1: Examples of Six Types of Tax Expenditures. Tax expenditure is designedRead MoreSubprime Mortgages And The Mortgage Crisis1546 Words   |  7 Pageseither FHA-insured or VA-guaranteed mortgages or conventional m ortgage that were designed to attract prime borrowers who had a good credit rating (Brueggeman, W.B., Fisher, J.D., 2011). During the early to mid-2000s, many lenders made loans to borrowers who were not prime borrowers. They were referred to as subprime borrowers. Subprime borrowers were those who had poor credit ratings and it was questionable whether they were able to afford the mortgage payments. These subprime borrowers were lead toRead MoreThe Breaking Of Barriers By Elisabeth Israels Perry1295 Words   |  6 Pagescentral forces in society because of their hard work and determination. They refused to be of little significance to society and wanted to assist in improving and reforming American life. 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Therefore, a person will need to build a credit history before a lending institution allows them to borrow funds. With that, a person who manages his credit well would not have been included in the subprime lending scandal because they would not be considered a risk. However, those individuals that had su b-standard credit scores of 570 and lessRead MoreDodd Frank Reform And Consumer Protection Act1709 Words   |  7 PagesDodd-Frank The full name of the bill is the Dodd-Frank Wall Street Reform and Consumer Protection Act, but it is mostly known as Dodd-Frank. The Dodd-Frank Act is a United States federal law, which is divided into sixteen titles that places major regulations on the financial industry with the purpose of restraining another major financial market collapse. The stated aim of the legislation is: â€Å"To promote the financial stability of the United States by improving accountability and transparency in

Corporate Responsibility And Marketing Strategies

Bonny van Dongeren BUS 508 Dr. Steed 28 April 2014 Corporate Responsibility and Marketing Strategies The Apple Corporation has very strong ethical and social responsibilities within the corporate world. Apple currently has a great position on their customer service and significant value. This is important when it comes to upholding a positive image. They have also violated a lot of these ethical and social responsibilities which has caused it to hurt Apple Corporation’s reputation. A couple of the violations that will be discussed are the wage and benefits standards and environmental issues. It is very important that Apple continues to follow these standard responsibilities. The other important factor to consider is keeping a price†¦show more content†¦When people find out that a major company they are supporting is polluting the air and water surrounding their environment it can cause a lot of animosity. Also, it seems that so many people complained of Apple doing this that the company created a whole environmental r esponsibility by showing social responsibility and creating teams to help keep the environment clean. They also show how active they are with recycling on their website. Another example would be continually working on providing healthy and safe work conditions. Apple has been known for providing horrible and unsafe work environments for suppliers in China. This can cause many people to feel that Apple is not treating their employees fairly in foreign locations. People do not respect companies that mistreat their workers. Apple has now taken initiative to emphasize on providing safe work conditions and human rights. They are becoming more and more proactive with Labor Rights according to their website and showing steps on how they are creating better workers. â€Å"Ethical beliefs are highly diverse and often deeply help, especially when intertwined with local cultural practices.† (Tweedie 2013) It is important when understanding different cultures and international locations because they are accustom to different beliefs. A way to help van Dongeren 4 this issue could be to create a decision-making model to help educate ethics globally. It isShow MoreRelatedCorporate Responsibility and Marketing Strategies1838 Words   |  8 Pagesï » ¿ Corporate Responsibility and Marketing Strategies Wanda Joyce McGhee Dr. Malinda Swigart Business 508 July 13, 2014 Corporate Responsibility and Marketing Strategies There is no question that Apple is a remarkable company. In addition to its business turnaround, its innovative design, and its media content and apps, the unadulterated  sexiness of all its products makes Apple hard to resist. For me, what isn’t hard to resist, is asking: How can a company that is this extraordinaryRead MoreCorporate Responsibility And Marketing Strategies1864 Words   |  8 PagesCorporate Responsibility and Marketing Strategies Wanda Lassiter Strayer University BUS 508 July 19, 2015 Revised date: August 12, 2015 Apples current position on the company ethical and social responsibilities, and determine whether or not the company has met these responsibilities Apple corporation’s current position in the company overall ethical and social responsibilities have been met over the years because (Internet, 2015), Apple has become one the most iconic brands in theRead MoreCorporate Responsibility And Marketing Strategies2769 Words   |  12 PagesAssignment 1: Corporate Responsibility and Marketing Strategies Examine Apple’s Current Position on the Company’s Ethical and Social Responsibilities, and Determine Whether or Not the Company Has Met These Responsibilities. 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Sch Promote free essay sample

Promote equality and inclusion in health and social care or young people’s settings. In this assignment I will be defining what it means to have equality and inclusion. I will also explore what the potential effects are of discrimination. And how we can implement inclusive practice to promote equality and support diversity. An explanation of what is meant by diversity. The concept of diversity is the acceptance that each child is individual and unique, and recognizing a child differences. These can be along the dimensions of race, ethnicity, gender, age, physical abilities, religious beliefs, or other ideologies. In an early years setting as a practitioner you have to make sure children understand each other’s cultures and communities as some children get familiarised with one way of life and respect less other attitudes. The children can do this in a safe, positive and nurturing environment. Diversity is about the understanding each other and moving beyond simple tolerance and embracing and celebrating the diversity contained within each other. We will write a custom essay sample on Sch Promote or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page An explanation of what is meant by equality. Equality protects people from being discriminated against on the basis of what sex, race disability, religion, belief, or age. It also means that everyone deserves opportunities and they should be supported when doing so. Equality does not mean that everyone should be treated the same way as every child is unique and has individual characters and skills and all children develop at different stages there for we have to offer them the same opportunity’s but let their children develop at their own pace. An explanation of what is meant by inclusion. Inclusion is the process of equality being put in place in education for all children whether they are disabled or disadvantaged there must be the appropriate specialised support being brought in for that child to feel intergraded in their setting, the practitioner must focus on a child’s strength and abilities. Inclusion is about the quality of childrens experience; how they are helped to learn, achieve and participate fully in the life of the school.