Consumer Credit Protection Act of 1968
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The federal wage garnishment law, widely known as the Consumer Credit Protection Act (CCPA) guards employees from discharge by their employers because their wages have been garnished in any one week. It was approved by the government in 1968. The Wage and Hour Division (WHD) of the Department of Labor (DOL) includes the ESA (Employment Standards Administration), who administers the act. The informed use of credit is administered by Congress and stabilizes economic acts to be enhanced with competition informed unto various financial institutions that are engaged in extentsion of consumer credit that would be strengthened otherwise by informed credit use. The informed credit use results thereof to aware consumers of the credit usage. The person to whom the debt is entitled from a transaction of consumer credit on the face of evidence and indebtedness, or, if no evidence is involved, ignoring the credit indebtedness, by total agreement.
Other Aspects of the Consumer Credit Protection Act
Congress added new Acts to be included within the Consumer Credit Protection Act. These acts amended the act to include other issues experienced by consumers. These are:
- The Fair Debt Collection Practices Act
- The Fair Credit Reporting Act
- The Fair and Accurate Credit Transactions Act
External links
- FDIC Laws, Regulations, Related Acts- Consumer Protection
- US CODE: Title 15, Chapter 41- Consumer Credit Protection