Consumer Rights and
Responsibilities
Consumer’s Bill of Rights
One
of the most important steps in the
direction of consumer protection was the
adoption of the Consumer’s Bill of Rights.
The Consumer’s Bill of Rights was
proposed by President John F. Kennedy
during his 1962 State of the Union
Address.
These were later expanded by Presidents
Richard Nixon and Gerald Ford.
Consumer’s Bill of Rights
The right to safety: protection against products
that are hazardous to life or health.
The right to be informed: protection against
fraudulent, deceitful, or grossly misleading
practices and assurance of receiving facts
necessary to make informed choices.
The right to choose: access to a variety of
quality products and services offered at
competitive prices.
Consumer’s Bill of Rights
The right to be heard: assurance of
representation of consumer interest in
formulating government policy and of fair and
prompt treatment in enforcement of the laws.
The right to redress (remedy): assurance that
buyers have ways to register their dissatisfaction
and to receive appropriate compensation for
valid complains.
The right to consumer education: assurance
that consumers have the necessary assistance to
plan and use their resources to their maximum
potential.
Governmental Consumer Protection
Since the 1930’s, Congress has passed many
laws to protect consumers from unsafe products
and unfair or deceptive business practices.
These laws help ensure that consumers get
quality goods and services for their hard-earned
dollars.
We may be on the verge of another wave of
consumer legislation as Congress considers
consumer privacy rights in the Information Age.
Federal Agencies
Many federal government agencies provide information
of interest to consumers.
Some of these agencies handle consumer complaints,
and others direct complaints to agencies or sources that
address consumer issues.
Most agencies can be easily located through the
internet.
Department of Agriculture
Food and Drug Administration
Consumer Product Safety Commission
Federal Trade Commission
United States Postal Inspection Service
Federal Aviation Administration
State and Local Assistance
Most states have a consumer protection agency,
or the state attorney general may handle
consumer affairs.
Many county and city governments have set up
consumer protection agencies or offices.
Consumer leagues and public-interest research
groups are also active at the state and local
levels, with newsletters, pamphlets, handbooks,
and web sites on current consumer issues.
Legal Documents
Will-a legal document that tells how you want
your estate to be distributed after your death.
Name an executor-person that will carry out the
transfer of the estate when you die.
Parents will name guardians for their children in a
will.
Power of Attorney-a legal document authorizing
someone to act on your behalf.
Example: if you become incapable of caring for
yourself, the power of attorney gives your appointed
person the power to use money from your savings to
pay your bills and hire people to care for you.
Legal Documents
Trust-a
legal document in which an
individual (the trustor) gives someone else
(the trustee) control of property, for
ultimate distribution to another person
(the beneficiary).
The
trustee may be a financial institution or a
person.
Parents of small children typically create
trusts (stated in their wills) to provide for their
children’s education and living expenses.