Consumer protection accounts for the set of laws designed to protect the rights of a consumer as well as maintain a fair trade for the sellers. When the market becomes competitive, it becomes difficult to generate accurate information for the marketplace. The laws prevent fraud, and unfair practices form gaining an advantage over the market.
Consumer protection is set according to consumer rights under the consumer organization. The organization provides knowledge to the consumers to keep themselves safe from the uncanny activities that take place in the marketplace. It helps the consumers to take better decisions while purchasing a product. Here are the types of consumer protection that are provided to the consumers and sellers in different countries.
There are federal and state level laws for the consumer laws such as Federal Food, Drug, and Cosmetic Act, Fair Debt Collection Practices Act, Fair Credit Reporting Act, etc. However, the federal level consumer laws are enforced by the Federal Trade Commission and mostly operates on an international level. The state-level laws apply to different states differently. Majority of the states have their own department of consumer affairs who undertake any complaints and mistreating under their jurisdiction. California has the strongest consumer protection law in the entire United States.
The Australian Competition and Consumer Commission or the individual State Consumer Affair agencies is the consumer protection organization in Australia. The Australian Securities and Investment Commission protects against any issues related to financial services and products.
Germany is a member of the European Union and follows the consumer protection policies made by the European Union, just like other countries under the union. The minister of the federal cabinet is responsible for consumer rights and protection. Any changes made in the rules for the products and services has to be accepted by all the members of the union to get implemented.
India practices The Consumer Protection Act of 1986. Under this law, a consumer can file a complaint about both the products and the services. The complaints can be registered under district level, state level and National level. State and National Consumer Forums pass the judgments. The Sate of Goods Act of 1930 practices safeguards to buyers of goods if the goods do not satisfy the requirements of them. The Agriculture Produce Act of 1937 checks the quality of the food produces and grades the standard of the products. This regulates the safe supply of agricultural produce and is marked with AGMARK.
The Nigerian Consumer Council (CPC) serves the purpose of safeguarding and enhancing the interests of the citizens through information, education, and enforcement of the rights to consumers. The Act of Parliament to promote the rights of consumers was formed to protect the consumer’s interests on products and services. The Nigerian government provides quick assistance to consumer complaints and take strict actions against the unfair practices and exploitation of the consumers.