Future Business Leaders of America (FBLA) Personal Finance Practice Test

If you believe a business has cheated you, which organization should you reach out to?

1. Federal Trade Commission

2. Consumer Financial Protection Bureau

3. Better Business Bureau

4. Chamber of Commerce

The correct answer is: Better Business Bureau

Reaching out to the Better Business Bureau (BBB) is the most appropriate action if you believe a business has cheated you. The BBB is a nonprofit organization that functions to promote trust and resolve disputes between consumers and businesses. It provides a platform for customers to file complaints, which the BBB then helps to mediate. Additionally, the BBB keeps records of businesses' practices and customer feedback, serving as an informative resource for consumers researching a business's reputation. In contrast, the Federal Trade Commission (FTC) focuses on enforcing laws against deceptive business practices and may be more appropriate for reporting fraud on a larger scale rather than addressing individual disputes. The Consumer Financial Protection Bureau (CFPB) specifically deals with financial products and services, making it relevant mainly for issues related to credit, banking, or financial services. The Chamber of Commerce primarily advocates for business interests and might not be equipped to handle consumer complaints effectively. Thus, the BBB is the best option for addressing personal grievances with businesses directly.