Federal

Stopping the Payday Loan Trap: Alternatives that Work, Ones that don’t

By faircontracts / August 10, 2010 / Comments Off on Stopping the Payday Loan Trap: Alternatives that Work, Ones that don’t

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…

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Past Proposed Federal Payday Loan Legislation

By faircontracts / August 10, 2010 / Comments Off on Past Proposed Federal Payday Loan Legislation

This chart summarizes the past federal payday lending legislation from 1999-2010.

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Synopses and Links to Major Federal Consumer Protection Statutes

By / July 5, 2010 / Comments Off on Synopses and Links to Major Federal Consumer Protection Statutes

THE 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…

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Magnusson Moss Act Summary (2009)

By / July 5, 2010 / Comments Off on Magnusson Moss Act Summary (2009)

Magnuson-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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