Adequate Notice
Much like a truancy law, which protects teenagers from themselves, the government passed the Truth In Lending Act. This act includes consumer protections when they take out a loan. The creditor must disclose things to the borrower like the interest rate, fees, and the grace period for missed payments. Sleazy lenders might sell the unaware borrower a loan with a 50% interest rate, or a huge fee if the monthly payment is late. These are the details consumers should consider if they want to protect themselves.
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Finance: What is The Securities Amendmen...9 Views
finance a la shmoop what is the Securities Amendments Act of 1975
alright people before 1975 we're thinking Nixon era here trading stocks [People greeting Nixon]
was very much a regional thing New York was the Sun and the rest of the world
well more or less just orbited the 1975 Act created a national market clearing [Countries orbiting galaxy]
system so that a share of IBM traded for generally the same price in California
Georgia New Hampshire and New York this way smaller less liquid regional systems [US states appear beside IBM]
or regional pieces or regional trading bins weren't penalized with higher
transaction costs than you know those suit-and-tie wearing wolves on Wall [Transaction costs crossed out]
Street and that's pretty much it that's what the 1975 securities Amendment Act
was all about basically it just was passed to ensure that the SEC would
consider any new regulation that might come down the pike from that point
forward in terms of fairness across a level playing field [Moving through a tunnel]
nationally yeah fairness or the wind [Football player placing football on the field]
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