EthicsQuestion 330 of 400
The core purpose of consumer protection laws like UDAAP in mortgage lending is to:
a.Protect consumers from unfair, deceptive, and abusive treatment
b.Guarantee every applicant is approved
c.Maximize lender profits
d.Eliminate all interest charges
Explanation
Consumer protection laws aim to shield consumers from unfair, deceptive, and abusive acts or practices. They do not guarantee approval, exist to maximize lender profits, or eliminate lawful interest charges.
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