#2 US Consumer Protection Law

What is consumer fraud?

• Unauthorized use of consumer's personal information.

• Misleading advertising by businesses.

• Deceptive practices or scams targeting consumers.

• Illegal activities committed by consumers.

Name one federal agency responsible for enforcing consumer protection laws in the US.

• Federal Trade Commission (FTC)

• Food and Drug Administration (FDA)

• Federal Communications Commission (FCC)

• Consumer Financial Protection Bureau (CFPB)

What are some common types of consumer fraud?

• bank robbery, tax evasion, money laundering

• counterfeiting, embezzlement, Ponzi schemes

• hacking, bribery, insider trading

• identity theft, credit card fraud, phishing scams, pyramid schemes, false advertising

What is the purpose of product safety regulations?

• The purpose of product safety regulations is to increase the cost of products for consumers.

• The purpose of product safety regulations is to create unnecessary bureaucracy and red tape.

• The purpose of product safety regulations is to ensure consumer safety and prevent accidents, injuries, and health hazards caused by unsafe products.

• The purpose of product safety regulations is to limit consumer choices and restrict competition.

What are some examples of deceptive advertising practices?

• Inaccurate product descriptions, false guarantees, misleading product labeling, deceptive pricing strategies, and misleading celebrity endorsements.

• Hidden terms and conditions, false product comparisons, misleading statistics, deceptive product demonstrations, and misleading before-and-after images.

• False or misleading claims, bait-and-switch tactics, hidden fees or charges, exaggerated product benefits, and fake testimonials or endorsements.

• Unsubstantiated claims, ambiguous pricing, misleading packaging, exaggerated product features, and fabricated customer reviews.

How can consumers protect themselves from identity theft?

• Consumers can protect themselves from identity theft by not sharing personal information online, using simple and easy-to-guess passwords, and leaving sensitive documents lying around.

• Consumers can protect themselves from identity theft by clicking on suspicious links and providing personal information to unknown websites, using the same password for multiple accounts, and not checking their credit reports regularly.

• Consumers can protect themselves from identity theft by using public Wi-Fi networks to access their online accounts, sharing personal information on social media platforms, and not reporting any suspected identity theft incidents.

• Consumers can protect themselves from identity theft by safeguarding personal information, being cautious while sharing information, monitoring accounts, using strong passwords, being wary of phishing attempts, shredding documents, using secure networks, considering identity theft protection services, checking credit reports, and reporting any suspected identity theft.

What are the key principles of consumer privacy?

• Informed consent, data maximization, purpose expansion, opacity, insecurity, and irresponsibility.

• Informed consent, data minimization, purpose limitation, transparency, security, and accountability.

• Uninformed consent, data maximization, purpose expansion, opacity, insecurity, and irresponsibility.

• Anonymity, data maximization, purpose expansion, opacity, insecurity, and irresponsibility.

What are the potential consequences for businesses that violate consumer protection laws?

• Legal penalties, fines, lawsuits, damage to reputation, loss of customers, and potential closure of the business.

• Decreased competition, increased customer trust, increased employee satisfaction

• Increased customer loyalty, increased brand recognition, increased market share

• Decreased profits, decreased market share, decreased employee morale

What is the role of the Federal Trade Commission (FTC) in consumer protection?

• The role of the Federal Trade Commission (FTC) in consumer protection is to enforce consumer protection laws and prevent unfair, deceptive, and fraudulent practices in the marketplace.

• The role of the Federal Trade Commission (FTC) in consumer protection is to regulate the stock market.

• The role of the Federal Trade Commission (FTC) in consumer protection is to oversee environmental regulations.

• The role of the Federal Trade Commission (FTC) in consumer protection is to promote monopolistic practices in the marketplace.

How can consumers file a complaint against a company for deceptive practices?

• Contact the Better Business Bureau.

• File a complaint with the company's customer service department.

• Seek legal advice and file a lawsuit against the company.

• Contact local consumer protection agency or file a complaint with the FTC