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Find information and resources on consumer protection laws, rules, cases, and advocacy from the FTC. Learn about the Federal Trade Commission Act, the proposed rule on unfair or deceptive fees, and the latest enforcement actions against fraudulent schemes.
The FTC's Bureau of Consumer Protection enforces the Consumer Protection Act, which prohibits unfair, deceptive and fraudulent business practices. Learn how the FTC collects reports, conducts investigations, sues companies and people, and educates consumers and businesses about their rights and responsibilities.
- Consumer Warranties and Service Contracts
- Key Consumer Protection Laws
- Be Aware of Scams
- The Bottom Line
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Whenever you buy merchandise, it comes with a warranty. This is a guarantee that it will serve the purpose it was purchased for—in other words: It will function.
Federal Securities Act
One of the most important consumer protections in finance is the Securities Act of 1933, which was enacted during the Great Depression. The act strictly limits the sale of investment contracts (referred to as "securities") and requires issuers to disclose the details of their financing and business plans. The act also established the Securities and Exchange Commission (SEC), which enforces securities laws and punishes violations.
Fair Credit Reporting Act
The Fair Credit Reporting Actwas passed in 1970 to regulate the collection of credit information, which is frequently used to determine mortgage and lending rates. The law limits who can access a consumer's credit history, and prohibits lenders from providing outdated or inaccurate information. The law also allows consumers to read their own credit reports, and to contest any inaccurate information.
Dodd-Frank Act
The Dodd-Frank Wall Street Reform and Consumer Protection Act, usually shortened to the "Dodd-Frank Act," was a sweeping reform of U.S. financial regulations in the wake of the 2008 financial crisis. The act stepped up oversight of banks and financial institutions, particularly those deemed to have been responsible for the Great Recession. It created the Financial Stability Oversight Council, with the ability to break up banks that were "too big to fail" or to increase their reserve requireme...
Scam artists generally take advantage of whatever is happening at a particular point in time. In the wake of the housing bust of 2008, for example, there were a lot of phony foreclosure rescues that caused people to lose the equity in their houses to so-called rescuers. There also has been an increase in scam attempts through automated phone calls....
The modern economy is dependent on consumer protection laws. These rules help eliminate bad businesses as well as give consumers peace of mind and encourage them to spend more. Over the past few decades, the number of laws has continued to grow and evolve to reflect new technologies and business practices. And thanks to the Internet and other techn...
Learn about the federal and state laws that protect consumers from fraudulent business practices, defective products, and dangerous goods and services. Find out how to deal with warranty breach, credit reporting, financial fraud, and more.
- Daniel Liberto
Jul 13, 2021 · Learn about the federal and state laws that protect your consumer rights and financial privacy. Find out how the Credit Practices Rule, the Right to Financial Privacy Act and the Expedited Funds Availability Act affect you.
- Fair Credit Reporting ActEnacted in 1970, the Fair Credit Reporting Act (FCRA) was the first federal law to regulate how your personal information is used by a private busi...
- Equal Credit Opportunity ActEnacted in 1976, the Equal Credit Opportunity Act (ECOA) prohibits creditors from discriminating based on religion, sex, race, color, marital statu...
- Fair Debt Collection Practices ActEnacted in 1977, the Fair Debt Collection Practices Act (FDCPA) concerns the way you are treated and contacted by debt collectors. It provides coll...
- Electronic Fund Transfer ActEnacted in 1978, the Electronic Fund Transfer Act (EFTA) protects you when you transfer funds electronically, whether you are using an ATM, swiping...
- Other Consumer Protection Laws Under The CCPACongress added several provisions – Title I, Title II, Title III and Title IV – to the Consumer Credit Protection Act to address specific concerns...
Learn about the Federal and state laws that protect consumers from defective products, deceptive practices and fraudulent business. Find out how consumer protection laws are enforced by the Federal Trade Commission and state agencies, and how they have evolved over time.
Oct 15, 2023 · The Federal Trade Commission Act (FTCA), first enacted in 1914, is an important federal consumer protection statute. It created the Federal Trade Commission (FTC), which is charged with enforcing antitrust statutes and promoting consumer protection.
Sep 18, 2023 · Learn what consumer protection laws are and how they keep you and your money safe from unfair, deceptive and fraudulent practices. Find out the key federal and state laws, agencies and topics they cover, such as credit, privacy, debt collection and more.
