Question

What parties are involved in consurner protection ? Explain their role in protecting the interests of the consumers

Answer 1

Consumer credit Act 1974- This act protects consumers as it lays down the regulations of purchase on credit for goods. The intention of this act is to prevent consumers signing to unfair contracts. And also to ensure that purchases know how much interest rates are going to be charged for the credit that they receive.

Answer 2

Explanation:

The federal and provincial governments are responsible for protecting consumer rights.

The federal government is responsible for creating marketplaces that are fair, efficient and competitive for producers, traders and consumers.