Consumer Protection Laws Overview

What is the main goal of consumer protection laws?

• To support sellers

• To protect buyers from fraud and unsafe products

• To increase taxes

• To advertise products

Which federal agency mainly enforces consumer protection laws?

• FBI

• FTC

• IRD

• Department of Labour

Which act requires lenders to clearly explain loan terms and interest rates?

• FDCPA

• FCRA

• TILA

• CPA

What does the Fair Packaging and Labeling Act ensure?

• Lower prices on packages

• Clear and honest product labeling

• Fun branding

• Large font sizes

What does the FDCPA protect against?Harassment by debt collectors

• Harassment by debt collectors

• Expensive food items

• Data theft

• Late loan approvals

Consumer protection laws exist to help sellers make more profit.

• True

• False

The Truth in Lending Act (TILA) helps borrowers understand the cost of credit.

• True

• False

If a business lies in advertising, which agency might investigate?

• FBI

• FTC

• USPS

• SEC

What can a consumer request under the FDCPA?

• More credit

• Validation of debt

• Loan forgiveness

• Lower interest

Which act protects your credit report information?

• FCRA

• FDCPA

• FDA

• CPA