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Commonly Asked Questions about Consumer Protection Laws

The U.S. does not yet have a comprehensive federal consumer data protection law that covers all varieties of private data. But it does have several federal laws that protect specific data sets, such as the U.S. Privacy Act of 1974, HIPAA, COPPA, and the Gramm-Leach-Bliley Act.
Consumer protection law can cover the sale and advertising of goods, services, and consumer financial products like credit cards, auto loans, and mortgages. It encompasses issues like false advertising, scams, predatory lending, unfair debt collection, and foreclosure.
Consumer protection laws safeguard purchasers of goods and services against defective products and deceptive, fraudulent business practices. consumer protection laws | Wex - Legal Information Institute cornell.edu wex consumerprotectio cornell.edu wex consumerprotectio
The FTC enforces federal consumer protection laws that prevent fraud, deception and unfair business practices. The Commission also enforces federal antitrust laws that prohibit anticompetitive mergers and other business practices that could lead to higher prices, fewer choices, or less innovation.
Select federal consumer protection statutes, which apply nationwide, include the Federal Trade Commission Act (FTC Act), the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act), the Gramm-Leach-Bliley Act (GLB Act), the Truth in Lending Act (TILA), the Fair Credit Reporting Act (FCRA),
Privacy of Consumer Financial Information Two federal laws cover your personal financial privacy: The Fair Credit Reporting Act (PDF) and the Gramm-Leach-Bliley Act. Learn more. Read Privacy Choices for Your Personal Financial Information on the Federal Trade Commission website.
Efforts made for the protection of consumers rights and interests are: The right to satisfaction of basic needs. The right to safety. The right to be informed. The right to choose. The right to be heard. The right to redress. The right to consumer education. The right to a healthy environment.
The Consumer Financial Protection Act of 2010 is an amendment to the National Bank Act. Its role is to increase oversight and help to protect consumers with financial transactions. The act resulted in the creation of the Consumer Financial Protection Bureau (CFPB).