The Consumer Credit Protection Act (CCPA) is a United States law , composed of several titles relating to consumer credit, mainly title I, the
Truth in Lending Act, title II related to extortionate credit transactions, title III related to restrictions on
wage garnishment, and title IV related to the National Commission on Consumer Finance.
The restrictions on wage garnishment guard employees from discharge by their employers because their wages have been garnished for any one indebtedness. The
Wage and Hour Division of the
United States Department of Labor
The United States Department of Labor (DOL) is one of the executive departments of the U.S. federal government. It is responsible for the administration of federal laws governing occupational safety and health, wage and hour standards, unemplo ...
enforces the provisions. The informed use of credit is administered by the
United States Congress
The United States Congress is the legislature of the federal government of the United States. It is bicameral, composed of a lower body, the House of Representatives, and an upper body, the Senate. It meets in the U.S. Capitol in Washi ...
and stabilizes economic acts to be enhanced with competition informed unto various
financial institution
Financial institutions, sometimes called banking institutions, are business entities that provide services as intermediaries for different types of financial monetary transactions. Broadly speaking, there are three major types of financial inst ...
s that are engaged in extension of
consumer credit that would be strengthened otherwise by informed credit use.
Titles:
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Truth in Lending Act
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Fair Credit Reporting Act
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Credit Repair Organizations Act
*
Fair Debt Collection Practices Act
References
Cornell University Law School Webpage
External links
Consumer Credit Protection ActPDFdetails
as amended in the GPObr>Statute Compilations collection
Public Law 90-321, 90th Congress, S. 5: Consumer Credit Protection Act
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Consumer protection legislation
United States federal labor legislation
1968 in law
90th United States Congress
1968 in the United States