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The Fair Debt Collection Practices Act (FDCPA), Pub. L. 95-109; 91 Stat. 874, codified as 15 U.S.C. § 1692 –1692p, approved on September 20, 1977, is a consumer protection amendment, establishing legal protection from abusive debt collection practices, to the Consumer Credit Protection Act, as Title VIII of that Act. The statute's stated purposes are: to eliminate abusive practices in the collection of consumer debts, to promote fair debt collection, and to provide consumers with an avenue for disputing and obtaining validation of debt information in order to ensure the information's accuracy. The Act creates guidelines under which debt collectors may conduct business, defines rights of consumers involved with debt collectors, and prescribes penalties and remedies for violations of the Act. It is sometimes used in conjunction with the Fair Credit Reporting Act.
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The Investor Protections and Improvements to the Regulation of Securities is a United States Act of Congress, which forms Title IX, sections 901 to 991 of the much broader and larger Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. Its main purpose is to revise the powers and structure of the Securities and Exchange Commission, credit rating organizations, and the relationships between customers and broker-dealers or investment advisers. This title calls for various studies and reports from the SEC and Government Accountability Office (GAO). This title contains nine subtitles.
The Mortgage Choice Act of 2013 is a bill that would direct the Consumer Financial Protection Bureau (CFPB) to amend its regulations related to qualified mortgages to reflect new exclusions made by this bill. The CFPB released new regulations regarding the definition of a Qualified Mortgage that took effect in January 2014, a definition that this bill would modify.
Privacy laws vary from state to state within the United States of America. Several states have recently passed new legislation that adapt to changes in cyber security laws, medical privacy laws, and other privacy related laws. State laws are typically extensions of existing United States federal laws, expanding them or changing the implementation of the law.
The Dodd–Frank Wall Street Reform and Consumer Protection Act was created as a response to the financial crisis in 2007. Passed in 2010, the act contains a great number of provisions, taking over 848 pages. It targets the sectors of the financial system that were believed to be responsible for the financial crisis, including banks, mortgage lenders, and credit rating agencies. Ostensibly aimed at reducing the instability that led to the crash, the act has the power to force these institutions to reduce their risk and increase their reserve capital.
References
- ↑ "Fair Credit and Charge Card Disclosure Act". Federal Trade Commission. 2013-07-19. Retrieved 2021-04-08.
- ↑ Schumer, Charles E. (1988-11-03). "H.R.515 - 100th Congress (1987-1988): Fair Credit and Charge Card Disclosure Act of 1988". www.congress.gov. Retrieved 2021-04-08.
- ↑ "Fair Credit and Charge Card Disclosure Act of 1988 (1988 - H.R. 515)". GovTrack.us. Retrieved 2021-04-08.
- ↑ "Fair Credit and Charge Card Disclosure Act". Federal Trade Commission. 2013-07-19. Retrieved 2021-04-08.
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