...Policy Analysis Paper The Consumer Financial Protection Bureau began operation in 2011, after the failures within investment banks, commercial banks and government sponsored housing enterprises caused a financial crisis. The crisis caused a collapse of capital markets related to consumer lending. The results of the crisis included unemployment rates at 10 percent, a decrease in home values by 40 percent or more, and a sharp decline in household savings. Although the crisis affected all Americans, those that were most negatively impacted included the Hispanic and African American communities. The losses felt by these minorities widened the gap in financial assets that bipartisan policies had been trying to reduce. The driving force behind the financial losses within these financially vulnerable communities was mortgage lending due to the fact that some lenders were sold subprime mortgages although they qualified for prime rates. After the financial crisis, congress determined that regulation practices among federal bank and financial product regulators, as well as the Federal Trade Commission (FTC) was ineffective because it lacked adequate oversight and enforcement mechanisms. In attempts to remedy this issue, congress enacted legislation creating the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (Dodd-Frank Act). This Act reorganized the existing consumer financial protections into a new federal agency named the Consumer Financial Protection Bureau (CFPB)...
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...Commentary on consumer protection act Consumer Protection Act Introduction 1.1 The moment a person comes into this would, he starts consuming. He needs clothes, milk, oil, soap, water, and many more things and these needs keep taking one form or the other all along his life. Thus we all are consumers in the literal sense of the term. When we approach the market as a consumer, we expect value for money, i.e., right quality, right quantity, right prices, information about the mode of use, etc. But there may be instances where a consumer is harassed or cheated. The Government understood the need to protect consumers from unscrupulous suppliers, and several laws have been made for this purpose. We have the Indian Contract Act, the Sale of Goods Act, the Dangerous Drugs Act, the Agricultural Produce (Grading and Marketing) Act, the Indian Standards Institution (Certification Marks) Act, the Prevention of Food Adulteration Act, the Standards of Weights and Measures Act, etc. which to some extent protect consumer interests. However, these laws require the consumer to initiate action by way of a civil suit involving lengthy legal process which is very expensive and time consuming. The Consumer Protection Act, 1986 was enacted to provide a simpler and quicker access to redressal of consumer grievances. The Act for the first time introduced the concept of ‘consumer’ and conferred express additional rights on him. It is interesting to note that the Act doesn’t seek to protect every consumer within...
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...premises licence; gaming permit; music copyright Procedures: local authorities; application (new, renewal); fees Conduct of licensed premises: prevention of crime and disorder; prevention of public nuisance; public safety; protection of children from harm LO2 Understand consumer protection Misleading information: advertisements; prices; food labelling; alcoholic strengths; display of prices (food, drink, accommodation); trade descriptions Employer liability: sale of goods; supply of goods and services; consumer protection; product liability directive; negligence; effect of European Union directives Weights and measures: beer and cider; spirits; wines; HM Customs & Excise LO3 Understand the implications of health, safety and hygiene legislation Regulations: health and safety; noise at work; electricity at work; display screen equipment; manual handling operations; reporting of injuries/diseases and dangerous occurrences; first aid; Control of Substances Hazardous to Health (COSHH) Duties and responsibilities: common law; employers’ liability; employees’ liability; risk assessment; fire regulations Food safety and hygiene: food safety requirements and offences; food hygiene regulations; temperature controls; labelling; food handling; Hazard Analysis Critical Control Point (HACCP); defences; enforcement; registration of premises LO4 Understand the legislative responsibilities of employers in relation to staff Employers’ responsibilities: appointment and contract; working...
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...1. What is the purpose of consumer protection laws? purpose of consumer protection laws is protect consumer rights, let consumers have legal weapons to defend their own consumption process.On the other hand also the constraints merchant's business ethics, to merchant malpractices. 2. Do you think McDonald’s has a duty to warn consumers of the dangers of eating its fast food? Do parents owe a duty to their children not to let them eat fast food too often? In my opinion, McDonald’s have duty to warn consumers of the dangers of eating its fast food, because a merchant who has morality should tell consumers the truth, and then let the consumers choose whether the consumption. This is a successful business enterprise.Conceal the facts only can let the merchant in trouble. Parents also owe a duty to their children not to let them eat fast food too often, because children eat fast food too often can cause overweight, malnutrition,etc. Children's health will be affected. So they need to let children know don’t eat fast food too often. 3. What would have been the effect on McDonald’s and other fast-food companies if the plaintiff had won her lawsuit against McDonald’s? Explain. If the plaintiff had won her lawsuit against, McDonald’s should make some new health food in the market, not always deep fried foods, like French fries. All of no health food will let children get fatter and fatter, more fruits and veg.,salad will be better. Facts: A 19 years old girl sues Mcdonald's...
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...can not only enhance our company exposure tremendously but through the benefits of social media and online advertising, we as a company, can grow to even newer heights. All of our advertising will remain legal, honest, decent, and that which will respect the cultural differences and all ethical issues respectfully. SCOPE OF STUDY The purpose of this report is to determine whether online advertising could increase our company’s exposure on a broader scale but prove that the return on our investment will benefit our company in the long run. Through our extensive Internet Market Analysis we review the following: • Behavioral Targeting • Consumer Protection • Cost Structure • Brand Recognition REPORT FORMAT This report contains three main sections: 1. Building a Company Website 2. Legal Boundaries of Online Advertising 3. Benefits of Online Advertising and Social Media INTERNET MARKETING ANALYSIS A website will not only give our company credibility but it can help to give an impression that our company is larger and more successful than it may actually be. While establishing an online identity, there are extensive laws to protect us and most importantly, our customers. The FTC or known as the Federal Trade Commission, oversees and regulates advertising, marketing, and trade practices throughout the United States. These laws can...
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...IIBM Institute of Business Management Examination Paper Business Ethics Section-A Part One: Multiple Choices: 1. (a) Information Technology 2. (a) Equal distribution of all benefits & burdens on peoples 3. (c) Retributive Justice 4. (b) Free Markets 5. (d) Historical Materialism 6. (a) Pure Monopoly 7. (a) Highly concentrated Markets 8. (b) Chlorofluorocarbons 9. (b) Market Cost 10. (c) Both (a) and (b) Part Two: 1. Definition: Mineral depletion is the ratio of the value of the stock of mineral resources to the remaining reserve lifetime (capped at 25 years). It covers tin, gold, lead, zinc, iron, copper, nickel, silver, bauxite, and phosphate. At first glance, sustainability and mineral resource development appear to be in conflict. Mining depletes finite resources and in a strict sense, therefore, is inherently unsustainable. For instance, there is only a finite amount of copper in the earth’s crust, and each unit of copper extracted increases the fraction of the total copper resource base that is in use. Thus, it can be argued that if we continue to mine we will eventually exhaust the available supply of minerals. This perspective, however, ignores the dynamics of mineral supplies. In practice the non-renewable character of minerals may be less constraining than it might seem. Five factors make the benefits from mining much more sustainable than they initially appear to be. First, through the process of exploration and development...
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...Policy and Legislature that affect Family and Consumer Science Birdie Bell December 11, 2014 Dr. Lynda Martin POLICY AND LEGISLATURE THAT AFFECT FAMILY AND CONSUMER SCIENCE Family and consumer sciences are an important academic discipline that students in most of North America take as a humanity subject (Brotherson & Duncan, 2004). The aim of this paper is to identify the policies and legislation on families in the United States and consumer science and examples will be used to illustrate these clearly. Federal and State laws on Families The United States Supreme Court has long made a pronouncement that the family law belongs to the individual states within the nation’s federalist system. Even if the federal government has as well undertaken regulation of issues that affect families, initially in a sporadic manner and then in a more consistent manner, the Court has made an affirmation of the primary role of the state in defining family. A large number of commentators show of appreciation of this authority allocation, presenting an argument that that it plays an important role in promoting family pluralism by showing to honor to local values and choices. However, others point out that federalism creates “equality by design” (Laura, 2014, p. 1835). Therefore, a large number of commentators present an argument that deference to states play a role of insulating courts and federal agencies from the disorderliness of family life, thus demeaning the family relationships’...
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...In an era of free competition where 'Consumer is KING', show the need for consumer protection and whether the KING needs protection Contents 1. INTRODUCTION: 3 1.1. NEED FOR CONSUMER PROTECTION 4 1.2. THE PURPOSE OF CONSUMER PROTECTION 5 1.3. CONSUMERISM 5 1.4. CONSUMER RIGHTS 5 2. CONSUMER GUIDANCE SOCIETY OF INDIA (CGSI) 9 2.1. FUNCTIONS OF CGSI: 9 2.2. ACHIEVEMENTS & FEATURES: 10 3. CONSUMER PROTECTION ACT, 1986: 11 3.1. IMPORTANT FEATURES OF THE ACT: 11 3.2. CONSUMER 12 3.2.1. CONSUMER OF GOODS 12 3.2.2. CONSUMER OF SERVICES 16 3.3. COMPLAINT 18 3.3.1. CONSTITUTES OF A COMPLAINT 18 3.3.2. ELIGIBILITY FOR FILING A COMPLAINT 18 3.3.3. REQUIREMENTS OF A COMPLAINT 20 3.3.4. TIME FRAME WITHIN WHICH A COMPLAINT CAN BE FILED 21 3.3.5. RELIEF AVAILABLE AGAINST COMPLAINT 22 3.3.6. CIRCUMSTANCES WHEN A COMPLAINT CANNOT BE FILED 23 3.3.7. DISMISSAL OF FRIVOLOUS AND VEXATIOUS COMPLAINTS 24 3.4. UNFAIR TRADE PRACTICE AND RESTRICTIVE TRADE PRACTICE 24 3.5. CONSUMER PROTECTION COUNCILS 28 3.6. DISPUTE SETTLEMENT THREE TIER MECHANISM 28 4. CASE STUDIES: 30 4.1. CASE 1: INDIAN MEDICAL ASSOCIATION V/S V.P. SHANTA AND OTHERS 30 4.2. CASE 2: MR. MAHAVIR D. CHOPDA VS SVKM’S NMIMS UNIVERSITY 33 5. GOVERNMENT INITIATIVES FOR PROTECTION OF CONSUMER RIGHTS & STATISTICS 50 6. ROLE OF NON-GOVERNMENTAL ORGANIZATIONS 53 7. COMPARITIVE STUDY OF CPA IN INDIA AND BRAZIL: 55 8. CONCLUSION: 58 9. RECOMMENDATIONS 58 10. BIBLIOGRAPHY 60 1. INTRODUCTION: In the...
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...Assignment 3 Privacy: Perspectives, Public Information, and U.S. Legislation Maria A Castro 11/25/2014 IT590 Legal and Ethical Issue in IT Professor Ellen Raineri Kaplan University Table of Contents Abstract 1. Part 1. Explain the Fair Information Practices Act. Compare and contrast the Code of Fair Information Practices with the private sector’s use of information. Is the private sector better at self-policing than the government, or should the government’s rules be extended to include private database ………………………………………………………………………….. 4 Part 2. What are your rights with regards to the information that you post or text? Does your level of privacy increase depending on your network/cell phone provider? The social media site that you are using? Explain.................................................................................................. 6 Part 3. Research legislation related to technology that has been proposed or passed within the last five years. Describe the legislation. Indicate whether it passed, or if it is still in consideration. Then, explain the benefits and drawbacks of the legislation you chose. ………………….. 8 Conclusion Reference Abstract This paper provide an overview of what are the main points of the Fair Information Practice Act, and how this regulations are impacting the use of private and personal information within the digital transmissions. The increase number of user’s texting and sharing information in social networks...
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...| CONSUMER PROTECTION ACTThe Consumer Protection Act, 1986 has been enacted for better protection of the interests of consumers and the establishment of consumer councils and other authorities for the settlement of consumer's disputes and for matters connected therewith. ConsumerConsumer means any person who, (i) Buys any goods for a consideration which has been paid or promised or partly paid and partly promised, or under any system or deferred payment and includes any user of such goods, other than the person who buys such goods for consideration paid or promised or partly paid or partly promised, or under any system of deferred payment when such use is made with the approval of such person, but does not include a person who obtains such goods for resale or for any commercial purpose; or (ii) Hires or avails of any services for a consideration which has been paid or promised or partly paid and partly promised, or under any system of deferred payment and includes any beneficiary of such services other than the person who hires or avails of the services for consideration paid or promised, or partly paid and partly promised, or under any system of deferred payment, when such services are availed of with the approval of the first mentioned person. As per the Definition of Service as defined under the Consumer Protection Act, 1986, "Service" means service of any description, which is made available to potential users and includes the provision of facilities in connection...
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...Analysis of Brochure | Tourism Package | | Table of Contents Introduction 3 Description of the Brochure 3 Condition, Warranty and Terms 4 Consumer Protection Act 6 Exclusion clause 7 Conclusion 8 References 8 Introduction In the tourism industry, brochures of tourism packages hold an important place. This happens because tourists need to know the options that a company may have for the tourists, so that the tourists can choose the best option available. This is another reason why critical assessment of a brochure is very crucial before it is printed. Each of the elements presented in the brochure is the way that they have the ability to make a company’s image to either fail or enhance. The duty of an advertising agency is to monitor minute details in a brochure of a particular tourist package in order to find out whether the brochure is deceptive, making false representation, offering prizes or gifts, advertising is being baited or it is unconscionable. The aim of this assignment is to show how to evaluate whether a selected brochure is as per the requirements of an excellent advertising element or not. Description of the Brochure The holiday brochure named as Spanish Spree that is a 14-day tour of two countries. There is an additional pass named as backstage pass included in the package that allows the tourists to explore the palace of Spanish royal families on the locally guided tour along with other palaces (Echtner, 2009). What is included on buying...
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...Name: Saeed Salam Student ID: 3780064 Hand in date : 13 Jan 2012 Effect of Ecommerce on companies and the Industries they operate in Individual Course Work- 1 Table of Content: Educational Industry Background………………………………………………… 3 Company Background………………………………………………………………5 Context Diagram……………………………………………………………………..7 Discussion of Ecommerce…………………………………………………………..9 Legislation……………………………………………………………………………12 Reference and Evidence…………………………………………………………….15 Educational Industry Background in UK At recent times, the world economics in increasing rapidly which results in more demand for talents. Many countries around the world face extreme issue over education. Governments of different country have discovered that education institute is very important in modern world. The UK government has introduced a system of national education in 1957 to create world class education. Education in UK is divided into three categories, which are; primary education, secondary education and higher education. Primary education is the first stage of education which is usually known as pre-school or nursery. Primary education is the first stage of compulsory studies. One needs to complete primary education in order to get admitted in secondary education. Secondary education is the final stage of compulsory studies. GCSE’s are a set of exam which is conducted end of secondary education. After secondary education comes the higher study which refers to college and universities and...
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...Society Final Draft October 21, 2014 Case Study 5: Mattel & Consumer Protection In 2007, Mattel, a global leader in the design, manufacture, and marketing of toys, issued a voluntary recall of 1.5 million Chinese-made toys. A majority of as a result of such carelessness, children’s health and safety were at great risk due to poor toy design, such as loose magnets, and substituting lead free paint for a fatal amount of lead paint on Mattel’s toys to cut corners and save money. As consumers we are naive to believe that boards of directors and higher management in manufacturing companies are highly concerned with our safety. In reality, Mattel has a serious lack of crisis management as well as failing to meet proper safety procedures violating consumers right to safety. As a result millions of children are in harm’s way and are susceptible to life-altering health risks. Having a lack of regulation on imported toys has resulted in high levels of lead paint and loose magnets. Government regulation or a lack of government regulation has also caused many companies aside from Mattel to cut corners and look more at the bottom line as opposed to the safety of consumers. According to Lawrence and Weber, stakeholder theory “argues that corporations serve a broad public purpose; to create value for society”. It can be assumed Mattel was acting unethically with regards to producing unsafe products for their consumers; as a result, devaluing our society in terms of safety. Within the...
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...boundaries of conduct, such as: * Laws * Rules * Regulations & * Other requirements Need to maintain in an organization: * Values * Ethical Culture * Expectation for appropriate conduct Mandated Boundaries is achieved through . . . * Compliance * Corporate Governance * Risk Management & * Voluntary Activities COMPLIANCE * The act of complying with a wish, request, or demand CORPORATE GOVERNANCE * Refers to the system by which corporations are directed and controlled. * Corporate Governance involves balancing the interest of the many stakeholders in the company. * Provides framework of attaining company’s objective. RISK MANAGEMENT * The process of identification, analysis and either acceptance or mitigation of uncertainty in investment decision-making. * Is a two-step process: (1) determining what risk exists in an investment, (2) handling those risks in a way best-suited to your investment objectives. VISSION AND VALUES * Provides aspirational guidance. RULES * Mandatory compliance in activities. PRINCIPLES * Provides guiding sense of right conduct in a situation or dilemma. Mandated Requirements for Legal Compliance Laws and Regulations * Are established to set minimum...
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...of an Organization Chadwick Slaughter Walden University The issue of public policy has changed dramatically over the years and the privacy of consumers has received considerable attention. The evolution of the Internet has produced a number of diverse concerns regarding the issue of confronting consumer protection for both international and domestic consumer privacy. High profile organizations are exposed to many breaches of personal information and puts these particular organizations are at risk of reputational damage and understanding the scope of an organization’s responsibilities for information security professionals is an absolutely essential. IT security professionals play an important roles managing liability for privacy and security risks for an organization in today’s world where hefty reparations can be bestowed to plaintiffs who place lawsuits upon organizations. Damages can range from big to small and can sometimes be retaliatory. Minimizing liability and reduce risks for an organization from physical and electronic threats can be a daunting task for information security specialists. This specialist must thoroughly comprehend the current legal environment, regulations, laws, and stay current with emerging issues regarding the responsibility of securing not only the companies’ vital information, but also consumers and users alike. An organizations responsibility to educate all employees all obligations and the proper use of technology and security for which...
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