Consumer Protection Terms and Definitions

CPSC
The U.S. Consumer Product Safety Commission, a Federal Government regulatory agency The U.S. Consumer Product Safety Commission is charged with protecting the public from unreasonable risks of serious injury or death from more than 15,000 types of consumer products

Travel Fraud
Pay with a credit card. Fraudulent travel operators take the money and run, and even legitimate companies can suddenly go out of business. Protect yourself by paying with a credit card so you can dispute the charges if the promises aren’t kept.

Warranties
Warranties and guarantees are a manufacturer’s or seller’s promise to stand behind its product or service.

Lessee
The party to whom the item is leased. In a consumer lease, the lessee is you, the consumer. The lessee is required to make payments and to meet other obligations specified in the lease agreement.

Small Claims Court
Small claims courts resolve disputes involving claims for small amounts of money. While the maximum amounts that can be claimed or awarded differ from state to state, court procedures generally are simple, inexpensive, quick and informal.

Bogus Invoices
Con artists send bogus invoices for what appear to be phone directory listings or for office supplies that were never ordered or delivered, hoping that no one will check before paying them.

Lemon Law Protection
Lemon Law applies to any new vehicle purchased and registered laws are by state

Charity Scams
If you’re approached by an unfamiliar charity, check it out. Most states require charities to register with them and file annual reports showing how they use donations. Ask your state or local consumer protection agency how to get this information.

Balloon Payment
A large extra payment that may be charged at the end of a loan or lease.

Loan Scams
Before you sign on the dotted line, get all of the loan terms in writing, including the payment schedule and interest rate. If the lender isn't familiar to you, contact your state banking department and ask how to confirm that it's licensed and operating properly.