9 Amazing Consumer Protections You May Not Know About


Consumer Protections

Consumer protections are the practice of safeguarding the rights and interests of consumers. This can include ensuring that products are safe, that businesses are truthful in their advertising, and that customers are treated fairly.

You may not know about these consumer protections, but they can help you in various situations.

Here are nine consumer protections laws you may not know about:

Top 9 Consumer Protections

Magnuson-Moss

The Magnuson-Moss Warranty Act is a federal law that protects consumers when they purchase products with warranties.

The Act requires manufacturers and sellers to provide written warranty information to customers, and it gives customers certain rights when they have problems with covered products.

If you buy a product and the seller tells you that a warranty covers the product, the Magnuson-Moss Warranty Act requires the seller to give you a written statement that tells you what the warranty covers and how long it lasts.

Used Car Rule

The Federal Trade Commission’s (FTC) Used Car Rule requires dealers to display a Buyers Guide in every used car they offer for sale and give it to buyers.

The Guide contains essential information about the dealer’s warranty if any.

The FTC’s Used Car Rule also requires dealers to tell you if the car comes with a manufacturer or dealer warranty. If it has a manufacturer’s warranty, the dealer must give you the name and address of the manufacturer so you can contact them directly with any questions.

Truth In Lending

The Truth in Lending Act (TILA) is a federal law that requires lenders to give you written information about your loan before you sign for it.

TILA also gives you the right to cancel certain types of loans within three days after signing the loan contract.

Consumer Leasing Act

The Consumer Leasing Act (CLA) is a federal law that regulates leases of personal property – like furniture, cars, and appliances – that last for more than four months.

The CLA requires leasing companies to give you important information in writing before you sign a lease, and it gives you the right to cancel certain leases within three days after you sign them.

Fair Credit Reporting

The Fair Credit Reporting Act (FCRA) is a federal law that promotes the accuracy, fairness, and privacy of information in the files of consumer reporting agencies.

FCRA also gives consumers the right to see their credit reports and correct any errors.

Fair Debt Collection

The Fair Debt Collection Practices Act (FDCPA) is a federal law that prohibits debt collectors from using abusive, unfair, or deceptive practices when they collect debts.

The FDCPA also gives consumers the right to sue debt collectors who violate the Act.

Equal Credit Opportunity

The Equal Credit Opportunity Act (ECOA) is a federal law that promotes fair lending practices and protects consumers from discrimination when they apply for credit.

The ECOA prohibits lenders from discriminating against applicants based on race, color, religion, national origin, sex, marital status, or age.

TCPA

The Telephone Consumer Protection Act (TCPA) is a federal law that regulates telemarketing calls and texts.

The TCPA requires telemarketers to get your permission before they can call or text you, and it gives you the right to opt-out of receiving telemarketing calls and texts at any time.

CAN-SPAM Act

The CAN-SPAM Act is a federal law that regulates commercial email messages.

The CAN-SPAM Act requires businesses to get your permission before they can send you commercial emails, and it gives you the right to opt out of receiving commercial emails from companies at any time.

Conclusion

These are just some of the consumer protections that exist to help you in various situations. Be sure to familiarize yourself with these laws and know your rights as a consumer. Knowledge is power!

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