assignment 13 and questions.docx - QUESTIONS FOR REVIEW...

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QUESTIONS FOR REVIEW CHAPTER 39 1.What is the primary role of the Federal Trade Commission? The FTC is the primary agency responsible for consumer protection. 2.What is deceptive advertising? Deceptive advertising happens when a business engages in making false statements regarding the product’s quality. 3.What can the FTC require a business to do if the business is engaged in deceptive advertising? The FTC can order the business to engage in corrective advertising to address the problem. 4.Explain the “bait-and-switch” tactic. This is when a business advertises something for a very low price but when you come in to buy it in person you are pressured into buying something else 5. With regard to door-to-door sales, what is the “cooling off” period? The cooling off period is the three days that the sale can be cancelled after the purchase. 6.In 2010, Congress created the Consumer Financial Protection Bureau. What is the purpose of the CFPB? The CFPB was created to protect consumers by enforcing federalconsumer financial laws and regulations. 7. Discuss briefly some protections provided to debtors by the Fair Debt Collection Practices Act. Some protections are that debt collectors cannot harass debtor and have to give them at least 30 days from initial contact to dispute the debt. 8.What is Regulation Z? Regulation Z is a regulation that requires that the lender disclose to the consumer will pay over the life of the loan. 9.Explain briefly the CARD Act. This Act requires credit card companies to disclose information like total interest one might pay, requires the companies to give a 45-day notice when there is an increase in interest rate. 10. Discuss some of the purposes of the Consumer Product Safety Act as set forth by Congress. This act was set forth to make sure there are requirements for safety is expressed in terms of performance requirements as well as marking the product with clear and adequate warnings, instructions or requirements. QUESTIONS FOR REVIEW CHAPTER 40
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  • Fall '16
  • Charles Kaiser

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