IN THE UNITED STATES A VARIETY OF LAWS AT BOTH THE FEDERAL AND STATE LEVELS REGULATE CONSUMER AFFAIRS. “Consumer protection law” is an area of public law that regulates relationships between individual consumers and businesses selling goods and services. Consumer protection covers a wide range of topics, including but not limited to product liability, privacy rights, unfair business practices, fraud, misrepresentation, and other consumer/business interactions.
These are some of the areas that such laws deal with:
♦ credit repair
♦ debt repair
♦ product safety
♦ service contracts
♦ bill collector regulation
♦ utility turnoffs
♦ personal loans
Here are some of the federal laws:
♦ Fair Debt Collection Practices Act
♦ Fair Credit Reporting Act
♦ Truth in Lending Act
♦ Fair Credit Billing Act
♦ Gramm-Leach-Bliley Act
Federal consumer protection laws are mainly enforced by the Federal Trade Commission and the U.S. Department of Justice.
The point is that in the United States there are laws protecting consumers against predatory practices of banks and credit card companies to bilk consumers of everything they can.