Consumer Protection Flashcards
1
Q
What are the 4 organisations that protect consumer rights?
1.
2.
3.
4.
A
- FCA.
- FOS.
- FSCS.
- OFT.
2
Q
The FCA regulate _______________________________.
A
providers of financial services
3
Q
The FOS _________________________ during _______________.
A
protect consumers
disputes
4
Q
The FCA is a _________ organisation.
The FOS is a _______________________ organisation.
A
private
government-backed
5
Q
What is the function of the FSCS?
A
Pays compensation when service providers cannot.
6
Q
The OFT regulates markets and encourages healthy competition when trading.
What does OFT stand for?
A
Office of Fair Trading.
7
Q
What is an example of what the consumer credit legislation enforces?
A
All firms must register with the FCA before offering credit to consumers.
