1. Consumer Protection Laws

2. Goals Know consumer rights and responsibilities Know state and federal policies and laws providing consumer protection

3. Rights Right to: ▫safety ▫be informed ▫choose ▫be heard ▫to redress ▫consumer education ▫service Responsibility to: ▫use products safely ▫use information ▫choose carefully ▫speak up ▫seek redress ▫learn ▫reward good service Responsibilities

4. Consumer Credit Protection Act This law requires truth in lending Consumers must be told exactly what the credit charge is on a purchase or loan Creditors must report these charges in a uniform way Credit costs must be stated both in dollars and cents and as an annual percentage rate

5. Fair Packaging and Labeling Act This statute requires truth in packing It is designed to help consumers compare goods The act requires that certain facts be printed clearly on packaging ▫ including net contents, size of serving, list of ingredients in order of decreasing weight, etc.

6. Food, Drug, and Cosmetic Act T h is law is designed to assure consumers of the safety, purity, and wholesomeness of food products It also covers the safety and effectiveness of drugs and cosmetics The act requires that these products be informatively labeled and truthfully advertised

7. Automobile Information Disclosures Act This act helps consumers compare new automobiles It requires that manufacturers label each car, listing its suggested retail price, the price of any extras, and the total price

8. Child Protection and Toy Safety Act The purpose of this act is to protect children from dangerous goods, including toys The act bans the shipment and sale of such dangerous items from state to state ▫ http://www.cpsc.gov/

9. Federal Hazardous Substances Labeling Act This statute requires warning labels on all products that might be hazardous The labels must list such things as precautions for use and first- aid procedures in case of accident

10. Textile Fiber Products Identification Act This law helps consumers compare textiles and fabrics It requires that labels list: ▫ fiber content by weight (expressed as a percent of total weight) ▫ manufacturer’s name and address ▫ family name of the fiber ▫ and similar items

11. Fair Credit Billing Act This act sets out a procedure for consumers to follow in having billing errors corrected

12. Warranty-Federal Trade Commission Improvement Act The purpose of this act is to protect the consumer from warranties not carried out The act sets minimum standards for: ▫ written warranties, rules for making them available before a product is sold ▫ provisions for class-action suits if they are not fulfilled

13. Equal Credit Opportunity Act This act protects people who apply for credit from discrimination based on sex, marital status, age, race, color, religion, national origin, or receipt of public assistance