Question

Drag the tiles to the correct boxes to complete the pairs. Match each law with its benefit for consumers. Economic Growth and Regulatory Paperwork Reduction Act Fair Credit Reporting Act Federal Deposit Insurance Act Children's Online Privacy Act Consumer disputes financial information reported to a credit scoring company. arrowRight Consumer has less paperwork to go through to buy a new house. arrowRight Consumer refuses to provide their five-year-old child's financial data to a company. arrowRight The FDIC has the right to review companies for consumers. arrowRight

Answer 1

Answer:

1. Economic Growth and Regulatory Paperwork Reduction Act - Consumer has less paperwork to go through to buy a new house

The Economic Growth and Regulatory Paperwork Reduction Act of 1996 (EGRPRA) is a law that requires that the regulatory bodies of Federal Deposit Insured Corporation insured institutions such as banks and savings organisations review the documents they require from said banks to see if there are any unnecessary requirements needed. This will translate to fewer  paperwork for the customers of such banks who for instance seek a mortgage to buy a house.

2.  Fair Credit Reporting Act - Consumer disputes financial information reported to a credit scoring company

The Fair Credit Reporting Act (FCRA) gives consumers the right to dispute the information reported to a credit scoring company. It also regulates how these companies are allowed to collect and share the acquired data.

3. Federal Deposit Insurance Act - The FDIC has the right to review companies for consumers

4. Children's Online Privacy Act - Consumer refuses to provide their five-year-old child's financial data to a company.

The Children's Online Privacy Protection Act was passed in 1998 as a means to allow parents to determine what information about their children that websites can collect. Children in this case refers to people under the age of 13.