Consumer Protection
15 U.S.C. §§ 1681-1681x
The Act (Title VI of the Consumer Credit Protection Act) protects information collected by consumer reporting agencies such as credit bureaus, medical information companies and tenant screening services. Information in a consumer report cannot be provided to anyone who does not have a purpose specified in the Act. Companies that provide information to consumer reporting agencies also have specific legal obligations, including the duty to investigate disputed information. In addition, users of the information for credit, insurance, or employment purposes must notify the consumer when an adverse action is taken on the basis of such reports. The Fair and Accurate Credit Transactions Act added many provisions to this Act primarily relating to record accuracy and identity theft. The Dodd-Frank Act transferred to the Consumer Financial Protection Bureau most of the rulemaking responsibilities added to this Act by the Fair and Accurate Credit Transactions Act and the Credit CARD Act, but the Commission retains all its enforcement authority.
Consumer Protection
Pub. L. No. 111-24, 123 Stat. 1734, codified in relevant part to 15 U.S.C. §§ 1601-1667f, 1681 et seq. and 1693 et seq.
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This Act (a) amends the Truth in Lending Act to prescribe open-end credit lending procedures and enhanced disclosures to consumers, limit related fees and charges to consumers, increase related penalties, and establish constraints and protections for issuance of credit cards to minors and students (numerous sections); (b) amends the Electronic Fund Transfer Act to address fees and other terms of gift certificates, store gift cards, and general-use prepaid cards (Sections 401-402); (c) amends the Fair Credit Reporting Act by requiring FTC rulemaking to mandate that advertisements for free credit reports disclose that free credit reports are available under Federal law at annualcreditreport.com and by protecting young consumers from prescreened credit offers (Sections 205, 302); and (d) amends the Mortgage Related Provisions of the Omnibus Appropriations Act of 2009 to clarify the FTC’s rulemaking authority under that Act (Section 511). The Dodd-Frank Act transferred these rulemaking authorities to the Consumer Financial Protection Bureau. This Act also requires other rulemaking, studies and activities involving FTC participation.
15 U.S.C. §§ 1679-1679j
This Act, Title IV of the Consumer Credit Protection Act, prohibits untrue or misleading representations and requires certain affirmative disclosures in the offering or sale of "credit repair" services. The Act bars companies offering credit repair services from demanding advance payment, requires that credit repair contracts be in writing, and gives consumers certain contract cancellation rights.
Section 1011 of the USA Patriot Act, Pub. L. No. 107-56, 115 Stat. 272, codified in relevant part at 15 U.S.C. § 6102 and § 6106
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Section 1011 amends the Telemarketing and Consumer Fraud and Abuse Prevention Act to cover “charitable solicitations.” It requires the FTC to expand the scope of the Telemarketing Sales Rule to cover for-profit third parties that solicit charitable contributions on behalf of non-profit charities. The Act further specifies that the FTC's telemarketing rules must include a requirement that anyone engaged in telemarketing for the solicitation of charitable contributions must clearly disclose that as the purpose of the call and authorizes the FTC to prescribe other disclosures it considers appropriate
15 U.S.C. §§ 1691-1691f
This Act (Title VII of the Consumer Credit Protection Act) prohibits discrimination on the basis of race, color, religion, national origin, sex, marital status, age, receipt of public assistance, or good faith exercise of any rights under the Consumer Credit Protection Act. The Act also requires creditors to provide applicants, upon request, with the reasons underlying decisions to deny credit. The Dodd-Frank Act added, among other things, a requirement that creditors provide to applicants a copy of all appraisals and other written valuations used in connection with the applicant’s application for first lien loans secured by a dwelling.
Pub. L. No. 100-583, 102 Stat. 2969, codified to 15 U.S.C. §§ 1610-1646, primarily 15 U.S.C. § 1637
This Act, amending the Truth in Lending Act, requires credit and charge card issuers to provide certain disclosures in direct mail, telephone and other applications and solicitations to open-end credit and charge accounts and under other circumstances.
15 U.S.C. 1666-1666j
This Act, amending the Truth in Lending Act, requires prompt written acknowledgment of consumer billing complaints and investigation of billing errors by creditors. The amendment prohibits creditors from taking actions that adversely affect the consumer's credit standing until an investigation is completed, and affords other protection during disputes. The amendment also requires that creditors promptly post payments to the consumer's account, and either refund overpayments or credit them to the consumer's account.
15 U.S.C. §§ 1692-1692p
Under this Act (Title VIII of the Consumer Credit Protection Act), third-party debt collectors are prohibited from using deceptive or abusive conduct in the collection of consumer debts incurred for personal, family, or household purposes. Such collectors may not, for example, contact debtors at odd hours, subject them to repeated telephone calls, threaten legal action that is not actually contemplated, or reveal to other persons the existence of debts.
Pub. L. No. 106-102, 113 Stat. 1338, codified in relevant part primarily at 15 U.S.C. §§ 6801-6809, §§ 6821-6827
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Title V, subtitle A, of this Act (15 U.S.C. § 6801 et seq.) requires the FTC, along with the Federal banking agencies and other regulators, to issue regulations ensuring that financial institutions protect the privacy of consumers' personal financial information. Such institutions must develop and give notice of their privacy policies to their own customers at least annually (except where exempted under section 75001 of the Fixing America's Surface Transportation Act (FAST Act), Pub. L. No. 114–94, 129 Stat. 1787, codified at 15 U.S.C. 6803(f)), and before disclosing any consumer's personal financial information to an unaffiliated third party, and must give notice and an opportunity for that consumer to "opt out" from such disclosure. Under the Dodd-Frank Act, this rulemaking authority transferred to the Bureau of Consumer Financial Protection (except with respect to certain motor vehicle dealers), but the FTC continues to have enforcement authority. Subtitle A also requires the FTC and other agencies to issue regulations for the safeguarding of personal financial information; this authority did not transfer. The Act also limits the sharing of account number information for marketing purposes.
Subtitle B of Title V (15 U.S.C. § 6821 et seq.) prohibits obtaining customer information of a financial institution by false pretenses. The FTC enforces these provisions with regard to entities not specifically assigned by the provision to the Federal banking agencies or other regulators. Also, Sections 131-133 of the Act (15 U.S.C. §§ 41 note; 12 U.S.C. §§ 1828b, 1849) clarify the application of the FTC Act and other FTC statutes to subsidiaries and other affiliates of depository institutions, and provide for certain interagency information sharing.
Pub. L. No. 102-242, 105 Stat. 2236, codified in relevant part at 12 U.S.C. § 1831t
Section 151 of this Act (adding Section 43 of the Federal Deposit Insurance Act), as amended by the Financial Services Regulatory Relief Act of 2006, Pub. L. No. 109-351, 120 Stat. 2011, and the Dodd-Frank Act requires that non-federally insured depository institutions disclose in certain locations, documents, and advertising that the institution is not federally insured (along with other requirements). It requires the Commission to issue a rule prescribing the manner and content of those disclosures. Appropriations acts prohibited Commission implementation of all or some of the Section's provisions since enactment. Under the Dodd-Frank Act, the Commission continues to have authority to enforce certain provisions of the rule, but the Commission's rulemaking and other responsibilities under the Section transferred to the Consumer Financial Protection Bureau.
15 U.S.C. §§ 1667-1667f
This Act, amending the Truth in Lending Act, regulates personal property leases that exceed four months in duration and that are made to consumers for personal, family, or household purposes. The Act requires that certain lease costs and terms be disclosed, imposes limitations on the size of penalties for delinquency or default and on the size of residual liabilities, and requires certain disclosures in lease advertising.
Pub. L. No. 100-709, 102 Stat. 4725, codified in relevant part at 15 U.S.C. §§ 1637, 1647, and 1665b
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This Act, amending the Truth in Lending Act, requires creditors to provide certain disclosures for open-end credit plans secured by the consumer's dwelling and imposes substantive limitations on such plans.
Pub. L. No. 103-325, 108 Stat. 2190, codified to various parts of Truth in Lending Act, particularly 15 U.S.C. §§ 1601-02, §§1639-41
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The Act, amending the Truth in Lending Act, establishes disclosure requirements and prohibits equity stripping and other abusive practices in connection with high-cost mortgages. The Dodd-Frank Act made substantial amendments to this Act.
Clayton Act
LAW: 15 U.S.C. §§ 12-27, as amended
LINK:
The Commission is charged under Sections 3, 7 and 8 of this Act with preventing and eliminating unlawful tying contracts, corporate mergers and acquisitions, and interlocking directorates. This Act was amended by the Robinson-Patman Act, Pub. L. No. 74-692, 49 Stat. 1526, codified at 15 U.S.C. §§ 13, 13b, and 21a, under which the Commission is authorized to prevent certain practices involving discriminatory pricing and product promotion. The Hart-Scott-Rodino Act (HSR), adding Section 7A of the Clayton Act, is listed separately.
15 U.S.C. §§ 6151-6155
The Do-Not-Call Implementation Act authorizes the FTC to collect fees for the implementation and enforcement of a Do-Not-Call Registry. Public Law No. 108-82 expressly authorizes the FTC under Section 3(a)(3)(A) of the Telemarketing and Consumer Fraud and Abuse Prevention Act to implement and enforce a Do-Not-Call Registry, and ratified the Registry provision of the FTC’s Telemarketing Sales Rule, 16 C.F.R. § 310.4(b)(1)(iii). The Implementation Act has been amended by the Do-Not-Call Registry Fee Extension Act of 2007, specifying the Registry fees for telemarketers and revising reporting requirements in the Telemarketing and Consumer Fraud and Abuse Prevention Act; and by the Do-Not-Call Improvement Act of 2007, prohibiting automatic expiration of registry listings.
Pub. L. 109-8 No. 109-8, 119 Stat. 23, §§ 1301-1309, codified in relevant part to 15 U.S.C. §§1637-1638,1664 and 1665b
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This Act amends the Truth in Lending Act in various respects, including requiring certain disclosures. Some of its disclosure requirements were superseded by later amendments to the Truth in Lending Act such as the Credit CARD Act of 2009. This Act also includes provisions for rulemaking and study involving FTC participation.
15 U.S.C. §§ 6501-6506
This Act protects children's privacy by giving parents tools to control what information is collected from their children online. The Act requires the Commission to promulgate regulations requiring operators of commercial websites and online services directed to children under 13 or knowingly collecting personal information from children under 13 to: (a) notify parents of their information practices; (b) obtain verifiable parental consent for the collection, use, or disclosure of children’s personal information; (c) let parents prevent further maintenance or use or future collection of their child’s personal information; (d) provide parents access to their child’s personal information; (e) not require a child to provide more personal information than is reasonably necessary to participate in an activity; and (f) maintain reasonable procedures to protect the confidentiality, security, and integrity of the personal information. In order to encourage active industry self-regulation, the Act also includes a "safe harbor" provision allowing industry groups and others to request Commission approval of self-regulatory guidelines to govern participating websites’ compliance with the Rule.
What is the Code of Federal Regulations?
The Code of Federal Regulations (CFR) annual edition is the codification of the general and permanent rules published in the Federal Register by the departments and agencies of the Federal Government.
The online CFR is a joint project authorized by the publisher, the National Archives and Records Administration's (NARA) Office of the Federal Register (OFR), and the Government Publishing Office (GPO) to provide the public with enhanced access to Government information.
Title 16 - Consumer Regulations
Federal Register
Published by the Office of the Federal Register, National Archives and Records Administration (NARA), the Federal Register is the official daily publication for rules, proposed rules, and notices of Federal agencies and organizations, as well as executive orders and other presidential documents.