Title: (Optional) Identify legal considerations in extending credit.
Course: Strategic Marketing (12152) > Section: Examining Financing

Identification should include

- laws governing credit applications

  - Truth in Lending Act
  - Fair Credit Reporting Act
  - Equal Credit Opportunity Act
  - Fair Debt Collection Practices Act
  - Fair Credit and Charge Card Disclosure Act

- Fair and Accurate Credit Transactions Act

- consequences to businesses for violating credit laws

  - lost customers
  - lawsuits
  - government intervention.

Process/Skill Questions:

- What factors influence the decision to grant or deny credit to a customer?
- How can businesses benefit from extending credit?
- What information should be obtained when determining whether to grant credit to an applicant?
- Why is one’s credit rating important?
- What ethical considerations should be included in sales training when marketing credit cards to customers?
- How can businesses/retailers be more transparent with customers regarding credit card options?