Consumer Protection Terms and Definitions

Fraud
Intentional deception resulting in injury to another.

Bogus Invoices
Con artists send bogus invoices for what appear to be phone directory listings or for office supplies that were never ordered or delivered, hoping that no one will check before paying them.

Collateral
Property, such as stocks, bonds or a car, offered to support a loan and subject to seizure if you default.

Warranties
Warranties and guarantees are a manufacturer’s or seller’s promise to stand behind its product or service.

Billing Error
Any mistake in your monthly statement as defined by the Fair Credit Billing Act.

Fake Check Scams
Fake check scammers hunt for victims. They scan newspaper and online advertisements for people listing items for sale, and check postings on online job sites from people seeking employment. They place their own ads with phone numbers or email addresses for people to contact them.

Health Consumer Bill of Rights
Was developed by the federal government. This has been used as a foundation for many health plans, including the federal government sponsored health plans. Health care consumer's rights; Rights of the health care consumer

Investment Scams
Steer clear of “offshore investments.” These are often promoted as a way to avoid taxes. Actually, you are still liable for taxes, and the investments themselves are usually very risky

Charity Scams
If you’re approached by an unfamiliar charity, check it out. Most states require charities to register with them and file annual reports showing how they use donations. Ask your state or local consumer protection agency how to get this information.

Telemarketer fraud
It’s important to know who you’re dealing with. If a company or charity is unfamiliar, check it out with your state or local consumer agency and the Better Business Bureau.