Consumer Rights and Responsibilities

A free enterprise system needs informed consumers who know their rights and their responsibilities in the marketplace.

The Consumer Bill of Rights

There was a time when businesses could pretty much do what they wanted to as long as it was not illegal. If a consumer was injured by a defective product, too bad! Manufacturers did not have to warn you if a product, like cigarettes, was harmful to your health. Through the years, a Consumer Bill of Rights has been established to protect American citizens. In this interactivity, you will examine each facet of the Consumer Bill of Rights. Click the player button to begin.

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Consumer Responsibilities and Remedies

You may know your rights as a consumer, but do you know your responsibilities? Do you know what to do if you have an issue with a good or service that you purchased? Consumers not only have rights in the marketplace, but also responsibilities to ensure protection from fraud, theft, and errors. In this interactivity, you will learn about consumer responsibilities and remedies.Click the player button to begin.

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Consumer Protection Organizations and Laws

The Federal Reserve System and several other organizations support consumer protection services through regulation and educational resources. The Consumer Compliance function of the Fed writes consumer protection regulations for the financial industry and enforces consumer protection at banks which it supervises. In addition, the Community Affairs function promotes fair and impartial access to credit for consumers. There are other national, state, and private organizations that inform and protect consumers, including:

Consumer Protection Laws

In the United States, there are a variety of consumer protection laws and regulations that relate to product quality and liability. In this interactivity, you will learn about some of these laws and regulations. Click the player button to begin.

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Content Practice

Now that you're aware of your rights and responsibilities as a consumer, practice those skills in this non-graded interactivity. Match the correct term or concept on the left with the definition on the right by dragging and dropping the definition. Click the player button to begin.