Federal
This report, created and published by the National Consumer Law Center, discusses the various characteristics that alternatives to payday loans must possess. It also takes a close look at the current alternatives available and how they compare to payday loans. Additionally, the report contains a history of the often called-for 36% maximum APR on small…
Read MoreThis chart summarizes the past federal payday lending legislation from 1999-2010.
Read MoreTHE FEDERAL TRADE COMMISSION The main consumer protection entity within the federal government is the Federal Trade Commission, or FTC. The FTC promotes consumer protection through its Bureau of Consumer Protection, which enforces federal consumer affairs laws and rules that the FTC itself creates. The FTC’s Bureau of Consumer Protection also educates consumers and…
Read MoreMagnuson-Moss Warranty Act (15 U.S.C. § 2301 et seq.) In 1975, Congress enacted the Magnuson-Moss Warranty Act to standardize product warranties so that consumers could better understand them and the FTC could better enforce their terms. Notably, it does not require warranties on all products, nor does it create implied or non-disclaimable warranties, although…
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