The Fair Credit Reporting Act requires that consumer reporting agencies (CRAs), such as credit bureaus and resellers of consumer reports should provide information to its creditors, employers, insurers, and others, do so with due regard for the confidentiality, accuracy, and legitimate use of such data. When those parties take adverse action on the basis of information in a credit report, they must identify the CRA that provided the report so that the consumer can learn how to get a copy to verify or question its accuracy and completeness. Creditors and others may not knowingly provide false information to CRAs, which are required to maintain reasonable procedures to guarantee the maximum possible accuracy of their data.
(Source:FTC.gov)
It’s delusory to misrepresent either directly or indirectly, that a product offers a general environmental benefit. Your ads should qualify broad environmental claims or should avoid them altogether to prevent deception about the specific nature of the benefit. Furthermore, your ads shouldn’t imply significant environmental benefits if the benefit isn’t significant. For example, a trash bag is labeled “recyclable” without qualification. Because trash bags ordinarily are not being separated from other trash for recycling from a landfill or incinerator, it is unlikely that they will be used again. Technically, the bag may be “recyclable,” but the claim is deceptive because it asserts an environmental benefit where there is no remarkable or meaningful benefit.
(Source:FTC,gov)
Image source www.career.brooklyn.cuny.edu
Labor law violations are considered a serious matter and are punishable by law. Employees must know what their rights are and how to assert them in the workplace.
Here are just a few of the important rights that employees must be aware of:
- The right to be protected from any form of discrimination – the term “discrimination” is a very broad term and encompasses a wide aspect of our lives. No person should be discriminated at work because of his/her sex, gender, sexual preference, pregnancy, beliefs, age, disability, etc.
- The right to a harassment-free workplace – everyone deserves to work in a place where one would feel safe from any form of harassment
- The right to fair pay – there are a lot of laws that protect your right to be paid no less than the minimum wage, to be paid a premium for working overtime or over the usual maximum amount of hours per week.
Laws governing advertising differ depending on the media used. The Internet currently has the widest reach of all. Due to the flexibility of this medium to host video, text, audio, pictures and others, it is doubly important that they implement rules to ensure that consumer protection.
Sellers are responsible and accountable for the claims made by the services or products they present. Liabilities are not however limited to them. Third parties such as marketers, website designers and advertising agencies are liable for making false statements. Advertising must not mislead and claims must be substantiated is the basic premise to follow.
The Franchise and Business Opportunity Rule strictly requires franchise and business opportunity sellers to give and inform its consumers a detailed disclosure document at least 10 days before the consumer pays any money or legally commits to a purchase. The document must include:
- the names, addresses, and telephone numbers of other purchasers;
- a fully-audited financial statement of the seller;
- the background and experience of the business’s key executives;
- the cost of starting and maintaining the business;
- the responsibilities of the seller and purchaser once the purchase is made.
Moreover, companies that make earnings representations must give consumers the written basis for their claims, including the number and percentage of owners who have done at least as well as claimed.
(Source:FTC.gov)
The Fair Credit Billing Act is important to a creditor who are billing customers for goods or services. The Act requires you to accept consumer billing complaints promptly in writing and to investigate billing errors submitted to you. The Act prohibits creditors from taking actions that adversely affect the consumer’s credit standing until the investigation is completed, and affords other consumer protections during disputes. The Act also requires that creditors promptly post payments to the consumer’s account, and either refund over payments or credit them to the consumer’s account.
(Source:FTC.gov)
Bait advertising is a tempting but insincere offer to sell a product or service which the advertiser in truth does not intend or want to sell. Its objective is to lead consumers from buying the advertised merchandise, in order to sell something else, usually at a higher price or on a basis more advantageous to the benefit of the advertiser. The primary aim of a bait advertisement is to obtain leads as to persons interested in buying merchandise of the type so advertised.
(Source:FTC.gov)
The Truth in Lending Act strictly requires creditors who deal with consumers to disclose information in writing about finance charges and related aspects of credit transactions, including finance charges expressed as an annual percentage rate. Furthermore, the Act establishes a three day right of rescission in certain transactions involving the establishment of a security interest in the consumer’s principal dwelling (with certain exclusions, such as interests taken in connection with the purchase or initial construction of a dwelling). Lastly, the Lending Act also establishes certain requirements for advertisers of credit terms.
(Source:FTC.gov)