AJ 2 Chapter Notes - Chapter 14: Consumer Protection, Used Car
3 Dec 2020
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Document Summary
1969-70 federal consumer protect act passed-interstate, monitor credit. Require lender in consumer loans to provide truthful and accurate information. Federal reserve board agency w/ regard to consumer and credit transactions. Control supply of money and interest rates. Set of rules to let consumer know cost of their credit. Uniform method of addressing information w/ regards to a loan. State and local levels deal w/ fraudulent and deceptive trade practices and sales practices, such as false statements about a products value or quality. Help resolve consumer complaints about defective goods or poor service. State attorney generals facilitate consumer protection by enforcing laws against consumer fraud through judicially imposed injunction and restitution. The basis most ftc consumer protection action- by prociding the commission will find deception in a misrepresentation, omission, or. Several states will simultaneously file lawsuits against a company that has been engaging in fraudulent acts involving more than one state. Prevent unfair methods of competition in commerce.
