Question

List three important laws that define consumer rights.

simple

Answer 1

Here are three important laws that define consumer rights:

1. **Consumer Protection Act**: This law protects consumers against unfair trade practices, faulty goods, and services. It establishes rights such as the right to safety, the right to be informed, and the right to choose.

2. **Fair Credit Reporting Act (FCRA)**: This law regulates the collection, dissemination, and use of consumer information, including credit reports. It gives consumers the right to know what information is being reported and to dispute inaccuracies.

3. **Truth in Lending Act (TILA)**: This law requires lenders to disclose clear information about loan terms and costs, helping consumers make informed borrowing decisions. It promotes transparency in credit transactions.