New Consumer Protection Rules: Clear Definitions and Penalties
This act aims to clarify what constitutes unfair or misleading financial practices. It introduces clear rules for businesses and provides consumers with greater assurance that their rights are protected. Citizens will gain better protection against financial abuses, and companies will have clearer guidelines, which may reduce the risk of disputes.
Key points
Introduces clear definitions of unfair financial practices, making it easier for consumers to understand their rights.
Companies will have the opportunity to correct errors before financial penalties are imposed, which may lead to faster problem resolution.
Limits the ability to impose financial penalties for very old violations, providing greater predictability for businesses.
Expired
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