ACME National Bank has a Web site that lists the bank's products and services. On its consumer loan page it lists debt cancellation contracts as an available product. What other disclosure must the bank place on this Web page?
ACME National Bank has a Web site that lists the bank's products and services. On its consumer loan page it lists debt cancellation contracts as an available product. What other disclosure must the bank place on this Web page?
When a bank lists debt cancellation contracts as an available product on its consumer loan page, it must ensure that the necessary disclosures are accessible to consumers. Since debt cancellation contracts involve potential legal and financial ramifications, it is important that consumers are informed about their terms and conditions. The most effective way to achieve this, without overwhelming the initial presentation of the product, is by providing a conspicuous link to the short-form disclosures on the page. This approach ensures that essential information is readily accessible to those who are interested, maintaining both transparency and usability.
Based on these considerations, the most appropriate and user-friendly approach that balances the need for disclosure with website usability is C. The short-form disclosures must be available by a conspicuous link on the page. This option ensures that consumers have easy access to essential information about debt cancellation contracts in a manner that does not overwhelm or confuse at the initial stage of product exploration.