Question

Question 2 Multiple Choice Worth 3 points)

Answer 1

Answer:

‼️The government limits what a credit card company can charge its customers in fees.‼️

Explanation:

Usually, it is the duty of a company that issues credit card to limit what it can charge its customers for the fees. Where government now intervenes in limiting the credit card fees, it means government is performing the role of controlling financial institutions.

There is a law on credit card conditions which states that should there be an increase in charges on credit card issuance, notice of such should be given ahead and also there should be no arbitrary increase in interest rate.