Chapter 46 - Consumer Protection Laws
8. Under the Fair Credit Billing Act, if the credit card holder thinks that the card issuer has
made an error on the statement, he/she has three years to report the error.
9. The Equal Credit Opportunity Act prohibits discrimination in credit transactions based on
10. The Fair Debt Collection Practices Act affects only the practices of debt collection
agencies that collect consumer bills for creditors other than themselves.
11. The Holder in Due Course rule creates a warranty claim or defense where the product is
sold "as is."
12. "Imminently hazardous consumer products" are those that pose an immediate and
unreasonable risk of death, serious illness, or severe personal injury.
13. The Consumer Product Safety Commission (CPSC)'s authority is limited to cosmetics and
14. "Lemon laws" apply only to car manufacturers.