Federal Consumer Laws and Credit Agencies – How the Educated Consumer Can Benefit

There are a group of federal statutes that provide a broad range of important protections for consumers against harmful lending practices. These statutes include the Fair Credit Reporting Act (15 USC 1681), the Consumer Credit Protection Act (15 USC 1671), the Fair Debt Collection Practices Act (15 USC 1692), the Truth in Lending Act (15 USC 1601), and the Fair Credit Billing Act (15 USC 1666). These laws are designed to protect consumers against abuses…