protection o Mick Mulvaney acting director of the Consumer Financial Protection

Protection o mick mulvaney acting director of the

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protection o Mick Mulvaney, acting director of the Consumer Financial Protection Bureau (CFPB) United States Department of Justice Department of Consumer and Regulatory Affairs (DCRA) Federal Trade Commission; enforces consumer rights National Association of Consumer Advocates (NACA) American Bar Association Section of Consumer Law Critics of Consumer Protections: (Frank, 2011) o Alan Greenspan, former Federal Reserve chair and author the inception of the Consumer Protection Act is too late and adds to the crisis o Large businesses and corporations o Countries that rely on relaxed standards of product manufacturing PERIOD: 1914 – Federal Trade Commission Act; established the Federal Trade Commission (FTC) as enforcement agency and prohibited unfair competition 1960 – Faulty Hot Water Heater, American Radiator & Standard Sanitary Corporation 1979 – 79’ Chevrolet Malibu Faulty Fuel Tank Page 3 of 9
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BMAL 560 1998 – Owens Corning: Asbestos Building Materials 1998 – Dow Corning Co. (DOW) and Corning Inc. (GLW) – Faulty breast Implants 2001 – Firestone Faulty Tires 2002 – Philip Morris [now known as Altria Group, Inc. (MO)] 2008 – General Motors Co.; Automobile Parts 2014 – General Motors Co. (GM) Faulty Ignition 2003-2015 – 3M Faulty government earplugs 2018 – C.R. Bard, Ethicon, and Atrium Hernia Mesh PLACES: (Corradi, 2015) United States has a long instituted policy on consumer protections The Federal Trade Commission was created on September 26, 1914, when President Woodrow Wilson signed the Federal Trade Commission Act into law Key partner countries for consumer protection items: o United States, Canada, European Economic Community, Japan, Pakistan, Russia and other Soviet States, and other industrialized developed nations. FTC, Dept of Justice, American Bar Association o Commission of European Communities, also known as European Economic Community o Fair Trade Commission – Japan o United Nations Guidelines for Consumer Protection, 1985 PHRASES: Uniform Commercial Code (UCC) “Lemon Law” (JUSTIA, 2018). Medical Terms ( Consumer Safety and Health Network (CSHN) , 2015) o Investigation of Consumers’ injuries o Product recall o Manufacturer’s responsibility Nightmare Recalls within the United States (Burrows, 2018) o Johnson & Johnson’s Tylenol Recall (1982) $100M o Peanut Corp. of America Salmonella Outbreak (2009) $1B o Toyota’s Floor Mat Recall (2010) $3.2B o Pfizer’s Bextra Recall (2005) $3.3B o General Motors’ Ignition Switch Recall (2014) $4.1B o Samsung’s Galaxy Note 7 Recall (2016) $5.3B Page 4 of 9
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BMAL 560 o Firestone Tires and Ford (2000) $5.6B o Merck’s Vioxx Recall (2004) $8.9B o Volkswagen’s Diesel Engine Recall (2015) $18.3B o Takata Air Bag Recall (2008) $24B Consumer accountability drives quality and efficiency. (Pete Hoekstra) The copyright bargain: a balance between protection for the artist and rights for the consumer.
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