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Consumer Protection Laws Expand Credit Rules Nationwide
Washington reports two new consumer protection laws. The Consumer Leasing Act requires clear lease terms including payments, taxes, penalties, rights, and termination rules for leases over four months and goods up to 25 000 dollars. The Equal Credit Opportunity Law amendment bans discrimination by race, color, religion, national origin and age, with enforcement by the FTC and various federal agencies. Substantial damages or government action possible for violations.
MENTIONED IN THIS ARTICLE
Washington
Equal Credit Opportunity Law
Federal Trade Commission
FTC
Frank Annunzio
D-Il
Federal
The
Federal Reserve Board
Home Loan Bank Board
Interstate Commerce Commission