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 issue.
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.