BLAW 371 Exam 2 - Assignment Essays %

question

Commerce clause

answer

The part of the U.S. Constitution that gives congress the power to regulate interstate commerce the basis of much federal regulation

question

Necessary and proper clause

answer

The part of the U.S. Constitution that gives congress the authority to use various powers to execute its functions under the constitution

question

Supremacy clause

answer

States that the constitution and federal laws supreme over the laws of all states

question

Interstate commerce

answer

The carrying on of commercial activity that affects businesses in more than one state

question

Political speech

answer

In constitutional law speech that concerns political as opposed to commercial matters given a high level of protection by the first amendment (public issue)

question

Commercial speech

answer

Expressions made by businesses about commercial matters or political matters the first amendment protects most truthful speech in this category (advertisement)

question

Exclusionary rule

answer

Under the fourth amendment as interpreted by the courts evidence that has been gathered in violation of the search and seizure rules can't be used against a defendant at trial

question

Self incrimination

answer

The rule that a witness is not bound to give testimony that would incriminate them with respect to a criminal act

question

Just compensation/takings clause

answer

The portion of the fifth amendment that states nor shall private property be taken for the public use without just compensation the requirement that when the government uses its power to force a private party to give up a properly interest fair market value should be paid

question

Eminent domain

answer

The power of the government to take private property for public use for fair compensation

question

Regulatory takings

answer

When a government action results in a reduction in the value of private property such instances are usually not subject to compensation under the constitution unless most of the value of the property is destroyed

question

Excessive fines

answer

An excessive penalty that is held to violate the eighth amendment this occurs when a fine or penalty such as prison term is too large relative to the legal violation that occurred

question

Due process

answer

Constitution limitation requiring that a person not be deprived of life liberty of property without a fair and just hearing

question

Equal protection clause

answer

Section one of the 14th amendment to the constitution providing that states treat all persons subject to state laws in a similar manner

question

Administrative agency

answer

A government body established by congress or the president to execute certain functions of congress they transact government business and may write and enforce regulations under the authority of congress or the president

question

Delegation of power

answer

The constitutional right of congress to authorize government agencies to perform certain legal duties

question

Enabling statute

answer

Legislative enactment granting power to an administrative agency

question

Administrative law

answer

Rules and regulations established by administrative agencies to execute the function given them by congress or the president also the law that governs how agencies must operate

question

Rule making

answer

In administrative law the procedures that agencies must follow when issuing rules to interpret or enforce the statutory authority they were granted by congress

question

Regulations

answer

A rule or order having legal force issued by an administrative agency the act or process of controlling by rule

question

Agency rule

answer

In administrative law a rule issued by a regulatory agency under its power granted by congress and subject to procedural requirements that detail the legal obligations of affected parties

question

Substantive/legislative rules

answer

Administrative rulings based on statutory authority granted an agency granted by congress the rules have the same legal force as statutes passed by congress

question

Interpretive rules

answer

Statements issued by administrative agencies that explain how the agencies understands its statutory authority to operate these may be advisory or binding

question

Procedural rules

answer

Under the APA or legislation the process that an administrative agency must follow for its actions to be valid

question

Self reporting

answer

The requirement under many laws that one subject to the law must volunteer certain matters including violations that have occurred to the relevant regulatory authority

question

Subpoena

answer

An order by a court or other legal authority empowered to require a person to appear to give testimony about a certain civil or criminal matter

question

Adjudicatory hearing

answer

In administrative law a formal process involving a regulatory agency and the private parties involved in a complaint procedures are more informal that a court trial but protect due process rights

question

Administrative law judge

answer

A person appointed to conduct an administrative hearing about a regulatory matter usually attorneys who work for the administrative agency such as the FTC serve in this capacity they run a trial like proceeding and issue a decision in the matter based on facts determined at the hearing

question

Judicial review

answer

Authority of a court to reexamine a dispute considered and decided previously by a lower court or by an administrative agency

question

Reviewable

answer

The ability for the decision of a court or agency to be appealed to a higher court or administrative level

question

Standing

answer

The right to sue in a particular court

question

Ripeness doctrine

answer

In administrative law a doctrine that before a matter may be appealed to a court system an agency must have finalized its decision so the matter is ready for court review

question

Exhaustion doctrine

answer

A rule that when a statute provides an administrative remedy relief must be sought through appropriate agency process before a court can act to consider other relief

question

Arbitrary and capricious

answer

A judgement or decision by an administrative agency or judge which is without basis in fact or in law such a decision is often referred to as being without a rational basis

question

Cost benefit analysis

answer

Computing the cost of an activity compared to the estimated monetary value of the benefits from the activity

question

Nutrition labeling

answer

By statute nutritional facts labels must list the percentage supplied required in one day of human nutrients based on the average 2000 calorie a day diet

question

Prescription drugs

answer

A medicine licensed by the FDA that should be dispensed to consumers only with permission of a physician or other qualified medical personnel

question

Kefauver amendment

answer

The portion of the food drug and cosmetic act that requires the FDA to approve drugs only after their safety and effectiveness have been established

question

Learned intermediary doctrine

answer

The rule that a physician or other qualified medical professional will be held liable for misapplication of a prescription medication if ordered for a use not recommended by the producer who is relieved of liability in such instances when a patient is injured by the medicine

question

Consent decree

answer

A judgement entered by consent of the parties and approval of a court whereby the defendant agrees to stop alleged illegal activity without admitting guilt or wrong doing often used to settle complaints by regulatory agencies

question

Deception

answer

In consumer protection law a claim practice or omission likely to be mislead a reasonable consumer and cause the consumer to suffer a loss

question

Unfairness

answer

In a consumer protection law a charge under section 5 of the FTC act that a business practice causes harm that consumers cannot reasonably avoid

question

Advertising substantiation program

answer

A policy of the FTC to review advertisements for content to ensure they are not deceitful

question

Lanham act

answer

Provides a private cause of action for a party injured by misappropriation of trademark and for one injured by false advertising that injures the sale of a competitors product

question

Trading regulation rules

answer

Administrative rules by the FTC or other agencies that hold certain practices to be illegal or create standards that must be met by sellers of certain products or services

question

Code of federal regulations

answer

The codification of the general and permanent rules and regulations published in the federal register by the executive departments and agencies of the federal government

question

Regulation Z

answer

A rule issued by the federal reserve board to implement the truth in lending act requiring systematic disclosure of the costs associated with credit transactions associated with truth in lending act

question

Credit report

answer

A report made by a consumer reporting agency concerning the financial condition and credit character of a person or business

question

Electronic fund transfer

answer

Monetary transaction made electronically usually by telephone or computer

question

Bill of rights

answer

First ten amendments in the U.S. constitution added after the constitution was adopted

question

Section I article 8

answer

Where in the constitution is congress given the right to tax commerce clause and foreign trade?

question

Commerce among states means interstate commerce

answer

Gibbons v. Ogden significance

question

Supreme court held that congress has the constitutional authority to regulate agriculture production even if the output isn't sold into commerce

answer

Wickard v. Filburn significance

question

Supreme court upheld constitutionality of a bank chartered by congress
State of Maryland couldn't tax a national bank
Creation of a national bank was constitutional under necessary and proper clause

answer

McCullough v. Maryland significance

question

Government usually needs a warrant except closely regulated industries

answer

Fourth amendment and businesses

question

Yes

answer

Under the 4th amendment can online chat rooms be monitored?

question

Individuals and businesses

answer

Who is protected from unreasonable search and seizure under the 4th amendment?

question

Concerns cruel and unusual punishment and excessive fines

answer

8th amendment

question

Protects individuals against self incrimination by testifying against oneself
Prohibits the taking of private property by government without compensation
Doesn't apply to corporations

answer

5th amendment

question

People can be forced to produce documents that expose a business violation when ordered by a court records aren't covered under self-incrimination

answer

5th amendment and corporations

question

5th amendment

answer

Which amendment includes the just compensation clause?

question

14th amendment

answer

Which amendment introduced equal protection clause?

question

Equal protection clause
Prevents states from passing laws diminishing federal constitutional protection
No deprivation of life liberty or property
Incorporates protections from the Bill of Rights and applies them to state government

answer

14th amendment

question

If a government rule applies differently to different persons such as on the basis of age or sex
Giving something to one group but not the other
Jim crow laws

answer

How is the 14th amendment violated

question

answer

Does equal protection extend to all government activities?

question

Make all laws necessary and proper to carry out its constitutional powers

answer

The necessary an d proper clause allows congress to

question

Yes

answer

Are restrictions on misleading commercial speech generally constitutional?

question

Apportionment

answer

A process of dividing a company's income into an in-state and out-of-state portion meant to protect companies from being taxed on more than 100% of income

question

State taxes cannot impede interstate or international commerce or foreign trade
State can't tax someone for passing through state or temporarily

answer

Taxing on state level rules

question

Commercial speech receives less protection than political speech

answer

What type of speech is more protected?

question

Can truthfully advertise professional services
Judgement is "not necessarily perfect but reasonable"
Can advertise about abortions
Can advertise about price of prescription drugs

answer

Commercial speech rulings

question

Obscenity and child pornography
Defamatory language
Threatening conduct
Fighting words

answer

What is unprotected speech?

question

Sixth amendment

answer

Right to trial by jury in criminal cases

question

Seventh amendment

answer

Right to trial by jury in common law cases

question

Supreme court struck down portions of the McCain-Feingold Act which limited electioneering communication by corporations and unions because since there is no distinction between media and other corporations such restrictions would allow congress to suppress political speech in all media outlets

answer

Citizens united case significance

question

Congress gives an agency power and authority through legislative delegation
Congressional statute delegates powers to the agency through an enabling statute

answer

How are agencies created?

question

Proposed rule drafted
Internal review and revision then to agency head
Published federal register
Interested parties can comment 60-90 day public period

answer

Rulemaking procedure

question

Since congress didn't directly address the bubble policy it was up to the EPA whether or not to use it
When considering challenges to agency regulations must give deference to an agencys construction of a statutory scheme

answer

Chevron case significance

question

Administrative procedures act

answer

Act designed to make uniform rules with most agencies some can have specifications

question

Sunshine act

answer

If government agency wants to have hearings they have to be public and give notice

question

Yes

answer

If an agency decision at a meeting held in violation of the sunshine act is the decision still valid?

question

Congressional budget process
Agency appropriations and reporting requirements
Cost benefit and risk analysis
Presidential executive orders

answer

Direct controls on agencies

question

Deference

answer

Federal courts defer to a federal agency's interpretation or expertise of an unclear statute

question

answer

Are there rights to a jury trial in adjudicatory hearings

question

An agency filing a complaint

answer

How are adjudicatory hearings initiated?

question

Jurisdiction
Reviewable
Standing
Ripeness
Exhaustion

answer

What is required for judicial review?

question

Requiring businesses to self report Direct observation of agency personnel
Obtaining information from subpoena

answer

How are the regulations of administrative agencies enforced?

question

Prohibitions requirements limitations
Withholding of relief
Penalties and fines
Assessment of damages compensation charges or fees
Suspension of license

answer

Possible agency sanctions

question

Sanitation of meats poultry and eggs

answer

What is the department of agriculture responsible for?

question

Bureau of chemistry of the department of agriculture

answer

Prior to the FDA creation what administered the food and drug act?

question

Effectiveness

answer

What does the Kefauver act have an emphasis on?

question

Allows the FDA to regulate food additives
Set safe use levels of additives

answer

Delaney act

question

Replaced by food quality protection act 1996 because it was too strict

answer

Why was the Delaney act replaced?

question

Lanham act

answer

Private parties may initiate civil actions for false advertising claims under

question

1973

answer

The FDA began issuing regulations for nutrition labeling in

question

Required the FDA to issue nutrition labels

answer

Nutrition labeling and education act

question

First major federal legislation on consumer credit umbrella law that contains many credit laws passed in 1968 first law was truth in lending act

answer

Consumer Credit Protection Act

question

Provide disclosure of basic information about the cost and terms of credit to consumer borrowers
Requires itemization of charges for such items as credit life insurance
Disclose APR the same
Fees for credit reports in non real estate
Consumer loan from finance company
Civil and criminal penalties

answer

Truth in Lending Act

question

When consumer credit transactions are over 25,000 except real estate

answer

When does TILA not apply?

question

Protects consumers from inaccurate charges (billing statement)
Standard procedures to dispute billing errors
Prohibit mailing of unsolicited credit cards
Procedures for lost or stolen credit cards
If successful creditors liable twice the amount of finance charge attorney fees court costs

answer

Fair Credit Billing Act

question

When companies raise rates give 45 day notice
Cards not issued to consumers under age 21
Payments on credit card must be applied to higher interest rate of debt portion

answer

Consumer Credit Card Act

question

Regulates credit bureaus
Consumers can see credit reports that result in credit being denied
CBs must:
respond to complaints within 30 days
tell consumers who have asked for their credit history
provide toll free service number
get permission before giving report to employer or that contains medical info

answer

Fair credit reporting act

question

Requires major credit reporting services to lets consumers see credit reports annually for free
allows consumers to correct bad info
helps deal with identity theft

answer

Fair and accurate credit transaction act

question

Prohibits discrimination against applicants for credit on the basis of race sex religion marital status receipt of public benefits
cannot discourage person applying for credit
cannot use info about potentially having children or reduced/irregular income
credit history must be at applicants request
creditor cannot request info about spouse unless they are involved

answer

Equal credit opportunity act

question

Prohibits unfair deceptive and abusive collection techniques
Applied to debt collectors not creditors collecting own debt

answer

Fair debt collection practices act

question

Amount of debt
Name of creditor
Assume debt is valid
Must show proof of debt if disputed

answer

What must be communicated to debtor?

question

Limits liability from stolen ATM card if consumer reports loss of card no more than 50 if notified in 2 days (regulation e) maximum liability 500 if reported in 60 days

answer

Electronic fund transfer act

question

Established consumer financial protection bureau with the federal reserve

answer

Dodd-Frank Act

question

Misrepresentation or omission of info
Likely to mislead reasonable consumer
Deception is material

answer

Unfair and deceptive advertising if

question

All states give attorneys general powers similar to FTC
Can bring suit against those involved in scams

answer

State deceptive practices laws

question

Regulates personal property leases that exceed four months in duration that are made to consumers for personal family or household purposes

answer

Consumer Credit Leasing Act

question

Prohibition of practices
Redress for consumers
Payment of civil penalties

answer

Power of FTC

1 of 112

question

Commerce clause

answer

The part of the U.S. Constitution that gives congress the power to regulate interstate commerce the basis of much federal regulation

question

Necessary and proper clause

answer

The part of the U.S. Constitution that gives congress the authority to use various powers to execute its functions under the constitution

question

Supremacy clause

answer

States that the constitution and federal laws supreme over the laws of all states

question

Interstate commerce

answer

The carrying on of commercial activity that affects businesses in more than one state

question

Political speech

answer

In constitutional law speech that concerns political as opposed to commercial matters given a high level of protection by the first amendment (public issue)

question

Commercial speech

answer

Expressions made by businesses about commercial matters or political matters the first amendment protects most truthful speech in this category (advertisement)

question

Exclusionary rule

answer

Under the fourth amendment as interpreted by the courts evidence that has been gathered in violation of the search and seizure rules can't be used against a defendant at trial

question

Self incrimination

answer

The rule that a witness is not bound to give testimony that would incriminate them with respect to a criminal act

question

Just compensation/takings clause

answer

question

Eminent domain

answer

The power of the government to take private property for public use for fair compensation

question

Regulatory takings

answer

question

Excessive fines

answer

An excessive penalty that is held to violate the eighth amendment this occurs when a fine or penalty such as prison term is too large relative to the legal violation that occurred

question

Due process

answer

Constitution limitation requiring that a person not be deprived of life liberty of property without a fair and just hearing

question

Equal protection clause

answer

Section one of the 14th amendment to the constitution providing that states treat all persons subject to state laws in a similar manner

question

Administrative agency

answer

question

Delegation of power

answer

The constitutional right of congress to authorize government agencies to perform certain legal duties

question

Enabling statute

answer

Legislative enactment granting power to an administrative agency

question

Administrative law

answer

Rules and regulations established by administrative agencies to execute the function given them by congress or the president also the law that governs how agencies must operate

question

Rule making

answer

In administrative law the procedures that agencies must follow when issuing rules to interpret or enforce the statutory authority they were granted by congress

question

Regulations

answer

A rule or order having legal force issued by an administrative agency the act or process of controlling by rule

question

Agency rule

answer

In administrative law a rule issued by a regulatory agency under its power granted by congress and subject to procedural requirements that detail the legal obligations of affected parties

question

Substantive/legislative rules

answer

Administrative rulings based on statutory authority granted an agency granted by congress the rules have the same legal force as statutes passed by congress

question

Interpretive rules

answer

Statements issued by administrative agencies that explain how the agencies understands its statutory authority to operate these may be advisory or binding

question

Procedural rules

answer

Under the APA or legislation the process that an administrative agency must follow for its actions to be valid

question

Self reporting

answer

The requirement under many laws that one subject to the law must volunteer certain matters including violations that have occurred to the relevant regulatory authority

question

Subpoena

answer

An order by a court or other legal authority empowered to require a person to appear to give testimony about a certain civil or criminal matter

question

Adjudicatory hearing

answer

In administrative law a formal process involving a regulatory agency and the private parties involved in a complaint procedures are more informal that a court trial but protect due process rights

question

Administrative law judge

answer

question

Judicial review

answer

Authority of a court to reexamine a dispute considered and decided previously by a lower court or by an administrative agency

question

Reviewable

answer

The ability for the decision of a court or agency to be appealed to a higher court or administrative level

question

Standing

answer

The right to sue in a particular court

question

Ripeness doctrine

answer

In administrative law a doctrine that before a matter may be appealed to a court system an agency must have finalized its decision so the matter is ready for court review

question

Exhaustion doctrine

answer

A rule that when a statute provides an administrative remedy relief must be sought through appropriate agency process before a court can act to consider other relief

question

Arbitrary and capricious

answer

A judgement or decision by an administrative agency or judge which is without basis in fact or in law such a decision is often referred to as being without a rational basis

question

Cost benefit analysis

answer

Computing the cost of an activity compared to the estimated monetary value of the benefits from the activity

question

Nutrition labeling

answer

By statute nutritional facts labels must list the percentage supplied required in one day of human nutrients based on the average 2000 calorie a day diet

question

Prescription drugs

answer

A medicine licensed by the FDA that should be dispensed to consumers only with permission of a physician or other qualified medical personnel

question

Kefauver amendment

answer

The portion of the food drug and cosmetic act that requires the FDA to approve drugs only after their safety and effectiveness have been established

question

Learned intermediary doctrine

answer

question

Consent decree

answer

question

Deception

answer

In consumer protection law a claim practice or omission likely to be mislead a reasonable consumer and cause the consumer to suffer a loss

question

Unfairness

answer

In a consumer protection law a charge under section 5 of the FTC act that a business practice causes harm that consumers cannot reasonably avoid

question

Advertising substantiation program

answer

A policy of the FTC to review advertisements for content to ensure they are not deceitful

question

Lanham act

answer

Provides a private cause of action for a party injured by misappropriation of trademark and for one injured by false advertising that injures the sale of a competitors product

question

Trading regulation rules

answer

Administrative rules by the FTC or other agencies that hold certain practices to be illegal or create standards that must be met by sellers of certain products or services

question

Code of federal regulations

answer

The codification of the general and permanent rules and regulations published in the federal register by the executive departments and agencies of the federal government

question

Regulation Z

answer

A rule issued by the federal reserve board to implement the truth in lending act requiring systematic disclosure of the costs associated with credit transactions associated with truth in lending act

question

Credit report

answer

A report made by a consumer reporting agency concerning the financial condition and credit character of a person or business

question

Electronic fund transfer

answer

Monetary transaction made electronically usually by telephone or computer

question

Bill of rights

answer

First ten amendments in the U.S. constitution added after the constitution was adopted

question

Section I article 8

answer

Where in the constitution is congress given the right to tax commerce clause and foreign trade?

question

Commerce among states means interstate commerce

answer

Gibbons v. Ogden significance

question

Supreme court held that congress has the constitutional authority to regulate agriculture production even if the output isn't sold into commerce

answer

Wickard v. Filburn significance

question

Supreme court upheld constitutionality of a bank chartered by congress
State of Maryland couldn't tax a national bank
Creation of a national bank was constitutional under necessary and proper clause

answer

McCullough v. Maryland significance

question

Government usually needs a warrant except closely regulated industries

answer

Fourth amendment and businesses

question

Yes

answer

Under the 4th amendment can online chat rooms be monitored?

question

Individuals and businesses

answer

Who is protected from unreasonable search and seizure under the 4th amendment?

question

Concerns cruel and unusual punishment and excessive fines

answer

8th amendment

question

Protects individuals against self incrimination by testifying against oneself
Prohibits the taking of private property by government without compensation
Doesn't apply to corporations

answer

5th amendment

question

People can be forced to produce documents that expose a business violation when ordered by a court records aren't covered under self-incrimination

answer

5th amendment and corporations

question

5th amendment

answer

Which amendment includes the just compensation clause?

question

14th amendment

answer

Which amendment introduced equal protection clause?

question

answer

14th amendment

question

If a government rule applies differently to different persons such as on the basis of age or sex
Giving something to one group but not the other
Jim crow laws

answer

How is the 14th amendment violated

question

answer

Does equal protection extend to all government activities?

question

Make all laws necessary and proper to carry out its constitutional powers

answer

The necessary an d proper clause allows congress to

question

Yes

answer

Are restrictions on misleading commercial speech generally constitutional?

question

Apportionment

answer

A process of dividing a company's income into an in-state and out-of-state portion meant to protect companies from being taxed on more than 100% of income

question

State taxes cannot impede interstate or international commerce or foreign trade
State can't tax someone for passing through state or temporarily

answer

Taxing on state level rules

question

Commercial speech receives less protection than political speech

answer

What type of speech is more protected?

question

Can truthfully advertise professional services
Judgement is "not necessarily perfect but reasonable"
Can advertise about abortions
Can advertise about price of prescription drugs

answer

Commercial speech rulings

question

Obscenity and child pornography
Defamatory language
Threatening conduct
Fighting words

answer

What is unprotected speech?

question

Sixth amendment

answer

Right to trial by jury in criminal cases

question

Seventh amendment

answer

Right to trial by jury in common law cases

question

answer

Citizens united case significance

question

Congress gives an agency power and authority through legislative delegation
Congressional statute delegates powers to the agency through an enabling statute

answer

How are agencies created?

question

Proposed rule drafted
Internal review and revision then to agency head
Published federal register
Interested parties can comment 60-90 day public period

answer

Rulemaking procedure

question

answer

Chevron case significance

question

Administrative procedures act

answer

Act designed to make uniform rules with most agencies some can have specifications

question

Sunshine act

answer

If government agency wants to have hearings they have to be public and give notice

question

Yes

answer

If an agency decision at a meeting held in violation of the sunshine act is the decision still valid?

question

Congressional budget process
Agency appropriations and reporting requirements
Cost benefit and risk analysis
Presidential executive orders

answer

Direct controls on agencies

question

Deference

answer

Federal courts defer to a federal agency's interpretation or expertise of an unclear statute

question

answer

Are there rights to a jury trial in adjudicatory hearings

question

An agency filing a complaint

answer

How are adjudicatory hearings initiated?

question

Jurisdiction
Reviewable
Standing
Ripeness
Exhaustion

answer

What is required for judicial review?

question

Requiring businesses to self report Direct observation of agency personnel
Obtaining information from subpoena

answer

How are the regulations of administrative agencies enforced?

question

Prohibitions requirements limitations
Withholding of relief
Penalties and fines
Assessment of damages compensation charges or fees
Suspension of license

answer

Possible agency sanctions

question

Sanitation of meats poultry and eggs

answer

What is the department of agriculture responsible for?

question

Bureau of chemistry of the department of agriculture

answer

Prior to the FDA creation what administered the food and drug act?

question

Effectiveness

answer

What does the Kefauver act have an emphasis on?

question

Allows the FDA to regulate food additives
Set safe use levels of additives

answer

Delaney act

question

Replaced by food quality protection act 1996 because it was too strict

answer

Why was the Delaney act replaced?

question

Lanham act

answer

Private parties may initiate civil actions for false advertising claims under

question

1973

answer

The FDA began issuing regulations for nutrition labeling in

question

Required the FDA to issue nutrition labels

answer

Nutrition labeling and education act

question

First major federal legislation on consumer credit umbrella law that contains many credit laws passed in 1968 first law was truth in lending act

answer

Consumer Credit Protection Act

question

answer

Truth in Lending Act

question

When consumer credit transactions are over 25,000 except real estate

answer

When does TILA not apply?

question

answer

Fair Credit Billing Act

question

When companies raise rates give 45 day notice
Cards not issued to consumers under age 21
Payments on credit card must be applied to higher interest rate of debt portion

answer

Consumer Credit Card Act

question

answer

Fair credit reporting act

question

Requires major credit reporting services to lets consumers see credit reports annually for free
allows consumers to correct bad info
helps deal with identity theft

answer

Fair and accurate credit transaction act

question

answer

Equal credit opportunity act

question

Prohibits unfair deceptive and abusive collection techniques
Applied to debt collectors not creditors collecting own debt

answer

Fair debt collection practices act

question

Amount of debt
Name of creditor
Assume debt is valid
Must show proof of debt if disputed

answer

What must be communicated to debtor?

question

Limits liability from stolen ATM card if consumer reports loss of card no more than 50 if notified in 2 days (regulation e) maximum liability 500 if reported in 60 days

answer

Electronic fund transfer act

question

Established consumer financial protection bureau with the federal reserve

answer

Dodd-Frank Act

question

Misrepresentation or omission of info
Likely to mislead reasonable consumer
Deception is material

answer

Unfair and deceptive advertising if

question

All states give attorneys general powers similar to FTC
Can bring suit against those involved in scams

answer

State deceptive practices laws

question

Regulates personal property leases that exceed four months in duration that are made to consumers for personal family or household purposes

answer

Consumer Credit Leasing Act

question

Prohibition of practices
Redress for consumers
Payment of civil penalties

answer

Power of FTC

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