Consumer Protection Laws
In a sometimes dishonest world of
business and commerce, the United States government has addressed
some of the threats that consumers face from less than scrupulous
businesses. There are a series of Consumer Protection Laws
designed to ensure fair competition and the free flow of truthful
information in the marketplace, preventing businesses that engage
in fraud or specified unfair practices from gaining an advantage
over competitors. Consumer Protection laws are a form of
government regulation which protects the interests of consumers.
For example, a government may require businesses to disclose
detailed information about products or services -particularly in
areas where financial fraud or misrepresentation of facts is an
In the United States a variety of
laws at both the federal or state levels regulate finance related
consumer affairs. Among them are the federal Fair Debt Collection
Practices Act, the Fair Credit Reporting Act, Truth in Lending Act,
Fair Credit Billing Act, Equal Credit Opportunity Act,
Gramm-Leach-Bliley Act and the Card Act are mainly enforced by the
Federal Trade Commission and the U.S. Department of Justice.
Educating yourself on how these laws may benefit you and your
family could make a huge difference in your life.
For more details about your rights under
FDCPA, FBCA, FCRA, go to www.ftc.gov.