Which of the following best illustrates the government’s role in controlling financial institutions? a.The government directly i
nfluences the price of stocks in the stock market by taxing purchases of stock. b. The government limits the amount of loans that individuals can take out from banks. c.The government regulates the terms that credit card companies can give their customers. d. The government directly sets the interest rate that banks charge for loans
The best answer is the last one:c. The government regulates the terms that credit card companies can give their customers.
The law that regulates the Credit Card conditions was passed in 2009 and is known as the Credit Card Accountability Responsibility and Disclosure Act..
For example the law dictates better advance notice of charges and prohibits retrospective increase of interest rate (charging the rate for the previous months).
<span>Paine’s Common Sense wanted more than to just negotiate with the British on different issues regarding their rule. He wanted total independence for America from British rule.</span>
