Discuss that consumers who use credit should be aware of laws that are in place to protect them and that these include requirements to provide full disclosure of credit terms such as APR and fees, as well as protection against discrimination and abusive marketing or collection practices.
Explain why it is important that consumers have full information about loans. Explain the information on a credit disclosure statement.
Subject Area: Social Studies
Strand: Financial Literacy (Discontinued after 2023-2024)
Date Adopted or Revised: 04/15
Status: State Board Approved