Exam 46: Consumer Protection Laws

The Consumer Product Safety Commission (CPSC) is empowered to issue product safety standards that may (1) involve the performance of consumer products or (2) require product warnings or instructions.

The Consumer Product Safety Commission:

Manjur and Fatima are both 63 years old and have a flourishing business. They decide to purchase a beach house and seek a 15-year mortgage. In this scenario, the lender _____.

The United States Congress gave the Uniform Commerce Commission (UCC) oversight over the 2005 Fax Protection Act, which limits transmissions of unsolicited fax messages.

Imminently hazardous consumer products are products that pose a potential risk of even slight illness or injury.

The Holder in Due Course rule:

Discuss the product safety standards issued by the Consumer Product Safety Act (CPSA). Also, list at least three products which, although consumer goods, do not come under the authority of CPSA.

The Consumer Product Safety Commission's authority is applicable for _____.

The Consumer Leasing Act:

Isaac applied for a loan from Livingstone Bank and was denied the loan two weeks later. He discovered that the reason behind the denial was that the bank considered him a huge credit risk because a credit report stated that he was an alcoholic. Isaac claimed that this information was not true. Which of the following acts will allow Isaac to approach Livingstone Bank for reconsideration of his loan application?

The Federal Trade Commission (FTC) prohibits prerecorded telemarketing sales calls unless the consumer has expressly agreed, in writing, to receive them.

According to Congress, the Fair Credit and Charge Card Disclosure Act would:

_____ use is defined as use by a person who lacks express, implied, or apparent authority to use a credit or debit card.

Under the Federal Trade Commission Act, the seven-member Consumer Product Safety Commission (CPSC) has authority to decide whether specific marketing and sales practices are unfair or deceptive, and whether those practices may be harmful to competition among manufacturers, distributors, and sellers.

Generally, remedies under "lemon laws" include:

The Fair Credit Reporting Act (FCRA) covers credit information supplied to potential _____ of a person.

Products within the Consumer Product Safety Commission's (CPSC's) regulatory domain include motor vehicles and equipment, firearms, aircraft, boats drugs, and cosmetics.

The Consumer Product Safety Act (CPSA):

Any private party may sue for an injunction to enforce any Consumer Product Safety Commission (CPSC) rule or order, even if at the time of the suit the CPSC or the attorney general has initiated an action based on the alleged violation.

The Consumer Product Safety Commission (CPSC) and the United States _____ may sue for injunctive relief or the seizure of products to enforce various provisions of the Consumer Product Safety Act (CPSA).