Consumer Protection Law - Explained
What is Consumer Protection Law?
Written by Jason Gordon
Updated at April 6th, 2023
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What is Consumer Protection law?
Consumer protection laws are state and federal laws that serve to protect individual consumers from deception or fraud in the marketplace. A consumer is someone who buys something for personal, family, or household use. These laws promote the accurate disclosure of information, facilitate market competition, and deter fraudulent practices. These laws specifically identify practices that are unfair or deceptive and mandate certain practices with regard to consumer disclosure. They protect vulnerable members of society and provide consumers with greater confidence in entering into commercial transactions.
Next Article: Major Federal Consumer Protection Laws Back to: CONSUMER PROTECTION
Discussion Question
How do you feel about laws developed specifically to protect consumers from unfair or deceptive practices by merchants? Do you think that the situation of the consumer in the market justifies the special protections? Why or why not?
Practice Question
Damien has a small business. He purchases equipment for the business and believes that he has been defrauded by the seller. Does the consumer protection laws protect him? Why or why not?
Related Topics
- Consumer Protection Law (Intro)
- What is consumer protection law?
- Cooling Off Rule
- What major federal laws protect consumers?
- What is the Federal Trade Commission
- Enforcement procedures of the FTC?
- Penalties for violating FTC regulations?
- Commercial Practices Prohibited by FTC?
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Unfair Trade Practices
- Predatory Pricing
- Bait & Switch
- Lemon Laws
- Consumer Financial Protection Bureau
- What is the Fair Credit Reporting Act?
- Users of Information?
- Credit Reporting Agency Consumers
- Reporting Agencies?
- Consumer Reporting Agency
- Furnishers of Information?
- Enforcement?
- Truth in Lending Act
- Fair Debt Collection Practices Act
- Fair Credit Billing Act
- Electronic Funds Transfer Act
- Electronic Funds Transfers (EFT)
- Equal Credit Opportunity Act
- Regulation B
- Consumer Credit Protection Act
- Consumer Advisory Council
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Consumer Financial Protection Act
- Consumer Product Safety Act
- Consumer Product Labeling Laws
- Credit Repair Organization Act
- Federal Food, Drug, and Cosmetic Act
- Magnuson-Moss Warranty Act
- Privacy Act of 1974 (Privacy Act)
- Personally Identifiable Information
- Right to Financial Privacy Act of 1978 (RFPA)
- Electronic Communication Privacy Act of 1986 (ECPA)
- Childrens Online Privacy Protection Act of 1986 (COPPA)
- Privacy Policy
- CAN SPAM Act
- What role do states play in Consumer Protection?