by TheBusinessProfessor | Feb 23, 2025 | Consumer Protection
What administrative penalties and remedies may the FTC seek for violation of FTC regulations?The FTC, through the negotiation of consent orders, has broad powers to fashion appropriate remedies to protect consumers in trade regulation cases, including: rescission of...
by TheBusinessProfessor | Feb 23, 2025 | Consumer Protection
What type of commercial practices does the FTC prohibit in an effort to protect customers?The FTC prohibits commercial practices that are deceptive to customers. This generally concerns the practices of merchants who market or otherwise represent the quality or...
by TheBusinessProfessor | Feb 23, 2025 | Consumer Protection
What is the Consumer Financial Protection Act?The Consumer Financial Protection Act was passed in 2010 as part of the Dodd-Frank Act with the purpose of establishing the Consumer Financial Protection Bureau (CFPB).The CFPB and FTC overlap in authority to administer...
by TheBusinessProfessor | Feb 23, 2025 | Consumer Protection
What is the Equal Credit Opportunity Act?The Equal Credit Opportunity Act (ECOA) protects individuals from discrimination in lending money or the extension of credit. It covers financial institutions, retail establishments, credit-card issuers, and other...
by TheBusinessProfessor | Feb 23, 2025 | Consumer Protection
What is the Fair Credit Reporting Act?The Fair Credit Reporting Act protects consumers (not businesses) by regulating the accuracy, fairness, and privacy of consumer information reported to or held by consumer reporting agencies. It protects consumers from the...
by TheBusinessProfessor | Feb 23, 2025 | Consumer Protection
What is the Electronic Funds Transfer Act?The Electronic Funds Transfer Act (EFTA) was passed with the purpose of regulating the practice of transferring funds electronically. More specifically, the EFTA applies to electronic transfers of money between two separate...
