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?