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consumer protection
(redirected from Fair Debt Collection Practices Act)

   Also found in: Dictionary/thesaurus, Legal, Financial, Acronyms, Wikipedia 0.03 sec.

consumer protection

Legal framework promoting customer safety and education and providing protection from hazardous or substandard products and from fraud. In the U.S., the Federal Trade Commission (established 1914) and the Food and Drug Administration (established 1927) help ensure consumer protection. Regulations address manufacture and design, advertising, labeling, and sales methods. In 1985 the UN produced its Guidelines for Consumer Protection (updated 1995); they cover consumer safety and product standards and education, providing a framework and a benchmark for governments (particularly of less developed countries) to establish a legal basis for consumer protection. See also consumerism, Ralph Nader.



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Though paying back a loan on time should be your most important priority, you should certainly know what is allowed and what isn''t allowed under the United States fair Debt Collection Practices Act.
There are both state and federal laws which must be followed by debt collectors in compliance with the Fair Debt Collection Practices Act (FDCPA) and, for California consumers, the Rosenthal Fair Debt Collection Practices Act.
com that the Fair Debt Collection Practices Act requires creditors to send written notice of how much a person owes, five days after they make first contact with the debtor.
 
 
 
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