Consumer protection refers to the legal measures and policies designed to safeguard the interests and rights of consumers in the marketplace. It encompasses a range of regulations that aim to prevent unfair, deceptive, or fraudulent practices by businesses. Consumer protection laws are intended to ensure that consumers have access to safe products, truthful information, and fair treatment in transactions. This includes protections against faulty goods, false advertising, and unethical business practices. Agencies and organizations at various levels, such as federal, state, or local governments, often enforce these laws, providing consumers with avenues for redress if their rights are violated. Overall, consumer protection is vital for promoting trust and fairness in economic systems, enabling consumers to make informed choices and encouraging competition among businesses.
Understanding the Controversy Surrounding Fintech Lending In recent years, fintech lenders have come under fire for their high-interest rates, especially those serving subprime customers. Critics argue that these rates often…