The American economy, the strongest in the world, is fueled by consumer spending. The American consumer has the confidence to enter the market – to borrow, buy, and spend – because of the legal protections provided to consumers in our regulated free market. Because of those protections, consumers rightfully expect a certain level of fairness in their dealings with businesses, which gives them the confidence necessary to spend the money that fuels our economy. In short, our economy is strong because of these consumer protection laws.
When a business violates the consumer protection laws it:
- Often places its victim in a tough financial position that is hard to recover from,
- Acts in an unfair way, undermining its victims’ confidence in the markets, and
- Gains an unfair advantage over law-abiding businesses.
Accordingly, it is important to stop businesses that are violating the law and hold them accountable for their violations, not only for the basic fairness for the victim, but also to keep our economy strong and protect law-abiding businesses.
Thankfully, our lawmakers agree on the importance of making sure that consumer protection laws are enforced.