Knowledge is power. It is important for consumers to be safe from faulty products and predatory producers.

1. Consumer Protection
How can citizens take steps to protect
themselves financially? How does the
government try to protect citizens?

2. Consumer Protection
 What is “Consumer Protection?
 Protection by the government from business
practices that are unfair, deceptive, or fraudulent
 Why legislation (laws)?
 Products are complicated and consumers
cannot know everything about them.

3. Consumer Protection
 The Federal Trade Commission (FTC) is the
main government agency tasked with regulating
businesses in order to protect consumers.

4. Consumer Protection
 The FTC’s Bureau of Consumer Protection
assists consumers with
 identity theft issues,
 getting credit and loans,
 equal opportunities in jobs and education,
 business scams
 and much more.

5. Consumer Protection
 How are consumers protected from business
practices that are unfair, deceptive or
fraudulent?

6. Consumer Protection
Trade-offs for protection
1. businesses must spend money on
research and testing
 this price is passed on to consumers
2. competition may be reduced
 hard for new or small businesses to stay in
business
3. the introduction of new ideas can be slowed
 testing is time consuming