Exam 44: Consumer Protection

Nathan borrows $1,250 to pay his son's medical bills. This is not a consumer credit transaction subject to the FCCPA since the loan is for a family member's services rather than for Nathan's personal purchase of goods.

Some states have broadened their lemon law coverage to include used cars and motorcycles.

A collection agency may not personally contact the debtor if the debtor has engaged a lawyer to represent him.

If the FTC rules that a seller has made a false or deceptive advertising statement, the Commission can:

Under the Fair Credit Reporting Act, a consumer has the right to have inaccurate information removed from his consumer credit report.

Discuss the role of the state attorneys general in consumer protection.

The Consumer Product Safety Commission cannot issue an order banning a hazardous product from the market.

A warranty creates a duty on the seller's part that the goods and services she sells will conform to certain qualities, characteristics, or conditions.

Enforcement and interpretation of the Truth-in-Lending Act is now the responsibility of the:

The Interstate Land Sales Full Disclosure Act has been repealed because it was no longer needed.

An employer must notify a job applicant or current employee that a credit report may be used and must obtain the applicant's consent prior to requesting an individual's credit report from a credit bureau.

Lemon laws are generally understood to be laws that:

The Consumer Product Safety Commission enforces the:

The Mortgage Reform and Anti-Predatory Lending Act of 2010 sets minimum underwriting standards for mortgages and prohibits mandatory arbitration clauses and prepayment penalties for ARMs.

Most lemon laws define a lemon as a car that:

The Home Equity Loan Consumer Protection Act:

The United States Postal Service plays an important role in consumer protection.

The Truth-in-Lending Act has disclosure requirements for both consumer loans and credit sales over $50,000.

The federal Truth-in-Lending law:

What remedies are available for the Federal Trade Commission?