Houston Consumer Protection – Federal Consumer Laws
Credit is the lifeblood of the global economy. Without it, commercial activity and business planning would simply grind to a halt. At some point in their lives, virtually every consumer and business owner uses credit to purchase a home, lease a vehicle, expand business inventory or make property improvements. Accordingly, credit is a critical aspect of corporate law, consumer law and real estate law.
At the same time, credit is a complex concept that can lead to disagreements between lenders, borrowers and other parties. In the worst case, such disagreements can spark commercial litigation that drains time, financial resources and emotional energy from those involved.
A host of consumer protection laws exist to protect vulnerable borrowers from abusive or illegal creditor practices that contravene established business law. Texas consumers are advised to learn more about the state and federal consumer protections available to them.
Consumer Protection Laws in Harris, Waller and Fort Bend County
Consumer protection laws, regulations and resources can be divided into two broad types: state and federal.
State Consumer Protection Laws and Resources
Texas has several key consumer protection agencies and statues. These include:
- Texas Office of Consumer Credit Commissioner, the main agency charged with investigating allegations of wrongdoing by creditors licensed in Texas
- The Texas Attorney General’s office, which may pursue larger-scale allegations of fraud and malfeasance
- The Deceptive Trade Practices Act, the broadest state statute covering credit law issues
- The Credit Services Organization Act, which is more narrowly targeted to smaller credit providers
Federal Consumer Protection Laws and Resources
There are also a host of federal consumer protection laws and resources, including:
- The Dodd-Frank Act, which provides a host of new consumer protections deemed necessary after the late-2000s financial crisis
- The Fair Labor Standards Act
- The Racketeer Influenced and Corrupt Organization Act
- The Securities and Exchange Commission
Work with Seasoned Houston Consumer Protection Attorney
While these laws, regulations and resources have been tested at great length, it is often difficult for laypeople to interpret them without assistance. For this reason, it is critical for any consumer or small business owner who wishes to pursue a consumer protection claim to contact a consumer-friendly corporate attorney.
At The Law Office of Henry A. Jakob, PLLC, our commercial and business attorney has experience in a wide range of matters related to consumer protection. Whether you have a question about a vehicle loan in Pearland or are worried about lien enforcement leading to foreclosure in The Woodlands, we stand ready to assess your case and provide any necessary assistance.
Contact Us Today
For more information about state consumer protection and federal consumer protection issues related to secured credit, mortgage credit and other loan types in Sugar Land, Katy, Missouri City or anywhere else in the greater Houston area, please call 832.879.2244 or fill out the online contact form at your convenience.