Consumer Protection Laws, Essay Example

Stolen Credit Card

It is stipulated in the clauses of FBA or the Fair Credit Billing Act that if cash cards like debit and credit cards are stolen, the owner should receive fair protection given that they fall under particular categories and their actions are identified well within the distinct consideration of loss-of-card. To give attention to Lori’s case, two particular issues arise. First is the manner by which a company [primarily a credit card provider] has offered Lori a credit card through mail. This happened without Lori’s request nor permission f the use of her information from the white pages. This then indicates that there was no intention of use on her part as she never showed interest on enrolling in any credit card base system of payment and that the transaction was invalid to begin with (O’neil, 1999).

Furthermore, it imposes that no agreement was formed between Lori and the credit card provider holding her to responsible for the conditions that enclose such ownership of a credit card. In this case, the court will rule on the side of Lori since she is the proper position to either accept or refuse any particular offer from a company that scrupulously used her name and other information for an unauthorized preparation and sending of the credit card to Lori through the mail.

When it comes to the purchases, the FBA points out that the reporting of the loss of credit card accounts so much for the condition by which particular purchase are to be cancelled in relation to the card’s utilization (Shefrin, 2003). In Lori’s case, her roommate took advantage of stealing the cad and using it for purchasing several thousands worth of merchandise; and because the card is registered under her name and her relative information, she is expected to pay the due. Nevertheless, since she did not know any of the purchases happening, she is to be supported by the law given that she reports the incident immediately, The FTC does provide proper protection to consumers like Lori, however, like any other case; Lori should be able to support her case with valid evidence for it to be given attention to (FTC, online website).

As for the manner of protecting one’s self from encountering such problem, it is important to know that sharing information online or through other portals should be reconsidered over time so as to make sure that no disclosure of important information would be undergone during the process hence making the individual vulnerable to information theft issues and/or identity theft operations done by businesses scrupulously operating in the market.

References

Federal Trade Commission. http://www.consumer.ftc.gov/articles/0213-lost-or-stolen-credit-atm-and-debit-cards. (Retrieved on March 22, 2014)

Sheffrin, Steven M. (2003). Economics: Principles in action. Upper Saddle River, New Jersey 07458: Pearson Prentice Hall. p. 261.

Schneider, Gary (2010). Electronic Commerce. Cambridge: Course Technology. p. 497.

O’Neill, Paul. “A Little Gift from Your Friendly Banker”, LIFE, April 27, 1999.